I don't think this critique is entirely fair. Farcaster only uses the ethereum blockchain for account key management. All posts and content are stored on "Hubs" which are like traditional servers that communicate with each other to ensure consensus.

It does seems like they do plan on launching a token at some point and I think we all know how that will end up 😬 

 There is value in simplicity. You don’t need such a convoluted architecture to sit on, you don’t to need to manage 2 different tokens for gas fees, etc. That adds risks.

Nostr demonstrates there is a simpler (and more resilient) way to architect such a protocol.