I’d argue @XHandles is actually bullish for on-chain naming services, like @ensdomains and @sns. Because it proves PMF for online identity but the problem is you don’t own it.

Remember what brought us here in the first place: you want to control your assets, not some platform or bank. X Handles is to online identify what a bank account is to a wallet. Stop paying Premium+ and you’ll find out who really owns it.

So, I think what happens is @XHandles kick-starts a wave of interest in online identity. Next, when X adds payments to Handles (which seems likely given Elon’s talked about X becoming a payments platform), people will realise centralised = no bueno. 👎

Because the problem compounds: they control both your identity AND your payments. They can literally destroy your life overnight. Don’t think it can happen? Ask anyone deplatformed by YouTube, Airbnb or PayPal... This is what we’re supposed to be moving away from, not towards!