i agree, nicely put. just a small addendum to your two points: having very little product for users to sell only works if the product is free-as-in-beer for them - and the way to get there is to sell data about users to paying customers. these are fundamentals of engagement economy: get users kind of addicted to something which has barely any value and they wouldn't pay for it if they had to and sell everything they tell about themselves in the process of using it to people willing to buy the data. due to network effects user data value grows super-linearly, so you can perceive your own data as 'worthless', but it becomes worth much more once you get data about others.