I think it is more like the protoweb. How this works is more similar to BBSes, Usenet, IRC networks and the like from 30 years ago. Truly distributed networks with no central controlling mechanism and the systems communicate by simply agreeing on the technical protocol. That was what the internet was designed for i the first place. The last couple of decades where everything has been centralized to a few big megacorps is an abomination.
The fediverse is the real Web3
save