Meet the new social media hierarchy, same as the old one

Why social media feels so much less exciting when it's established:

Open systems start with no hierarchy, so they look like meritocracies at first, but network effects mean newcomers create a hierarchy, often without even meaning to. We will never return to a Twitter where there's little difference between newcomers and the old guard.

The form of the piece is an good old fashioned "it's not fair" - but it captures why the excitement and potential many find in the early days of a new tool often fails to come to fruition, as new hierarchies start to establish themselves.