thematically it is intuitive that "information markets" created by verifiable scarcity can help us identify signal within an expanding sea of noise and slop.

a question would be the relationship between virality and signal. 

for example, the "ice cream so good" girl was viral once upon a time, and her livestream coin would reach a super high market cap, but imo not super valuable content or high signal.

hard disagree with the example 
incredibly valuable insight on the psyche of the audience 

one man's noise is another man's signal

value of the information revealed by the market is not equal to the value of the market 

price of oil is valuable information but it's not the same value as the oil itself 
knowing what people pay attention to is valuable information but not the same value as the thing they pay attention to

that kinda feels like a cop out imo, in that case, all viral slop is valuable because it delivers insight on the psyche of the audience

which, then, at that point, nullifies the original point about markets deriving signal