I think its safe to say the transition will be ugly, disorderly and involve both bangs and whimpers. "Slowly then suddenly" applies to institutional bankruptcy as well as personal bankruptcy.

Civilised mid-wits will panic if dumped head-first into freedom, true, but that's why we need decentralised protocols NOW as institution replacements, so that the midwits have many points of contact with systems that work even before other systems finally fail.

Bitcoin is one. Nostr is another. Mesh networks. 

Have given thought to "aostr", "arbitration and other stuff transmitted via relays", but need to write a lot more notes and some code proof of concept.