MeWe on blockchain?

I've logged into MeWe only once or twice since I moved to Mastodon about half a year ago. I wasn't sure MeWe was still around, but then I saw this recent news that it's incorporating some new blockchain technology from Frequency.

Read announcements about the Polkadot parachain being incorporated into MeWe...

Blockchains make it possible to deliver a new era of social networking apps in which people, for the first time, can interact in digital spaces while retaining direct control over their data. However, until now, when blockchain technology has been applied to social networks – which entail high-volume transactions with low individual value – costs overwhelm a business model before an app reaches even a million users. Frequency enables apps to overcome this barrier with a revolutionary pricing model, allowing builders to reserve replenishing transaction capacity at a predictable, low cost.

"Frequency breaks the price barrier so blockchain technology can be used to decentralize social at massive scale," said Braxton Woodham, president of Amplica Labs, the team that was the initial technical contributor to Frequency. "This breakthrough enables a bridge for Web 2.0 apps to connect their existing user bases to Web3 value, and opens blockchain for use cases that go far beyond DeFi."
https://www.prnewswire.com/news-releases/frequency-blockchain-to-deliver-decentralized-social-experience-to-mewes-20-million-users-301807957.html

Um... what? That's gobbledegook. It sounds like obfuscation meant to separate idiots from their wealth via venture capital.

According to the announcement, the integration between MeWe and Frequency is based on the Decentralized Social Networking Protocol (DSNP), which Woodham worked on as part of Frank McCourt’s Project Liberty. McCourt allocated $100 million to that project in June 2021.
https://cointelegraph.com/news/mewe-social-network-with-20m-users-to-integrate-with-polkadot-parachain

Yeah. Like that.

So who here is still on MeWe? Have you noticed anything different lately as part of this programming conversion? I hope Mastodon and Dreamwidth don't follow the blockchain bandwagon. I'm willing to believe that the technology could provide some theoretical utility in specific circumstances, but this MeWe conversion (I am stating without understanding it fully) is nonsense.