> when everything becomes a token, nothing has value

Pre-internet generating public content was hard / expensive. And thus we had a finite supply.

The median internet post is worthless. There is an infinite supply of them. Some posts are valuable, though. And in aggregate, all internet posts are far more valuable than pre-internet content. The valuable companies surface and distribute the most valuable posts through feeds, i.e. concentrating attention.

The issue has been until recently, tokens were relatively hard to create, so there was a limited supply. 

As that's gotten 10x easier (and will continue to get easier), we haven't really adapted both the tools and norms around it.

At the limit, there will be an infinite supply of tokens. Most will be worthless. And some will be valuable.

when everything becomes a token, nothing has value