Comment by JohnBooty

I'm not sure it's a pendulum. Some (many? most?) things don't swing back. Many changes are effectively irreversible.

It's not like fat-->skinny-->fat-->skinny ties, where there's zero friction for the pendulum.

The only way the net is going back to the old ways is if the governments of the world stop caring (good luck with that) or if end-user decentralization tools make a quantum leap in adoption, but even then I think you're more likely to see governments cracking down on that rather than just not caring.