It's a bunch of smoke and mirrors akin to blockchain, bitcoin (and the entire web3/crypto space in general) - a whole bunch of hype and "evangelists" who keep saying it's going to change the world (and make them a whole lot of money in the process, how convenient!) but if you do look at it critically even at a surface level you realize it's just a bunch of really computationally expensive BS that isn't any better or more officient than existing status quo solutions.
Only reason I still use it is because it's easier to cast to my google nest minis than Apple Podcasts.