Yes exactly. You're getting it. 

I had worked on a WoT style project on another decentralized network - one in which each user has a full VM (which can do your WoT computation, as you rightfully point out as a need). You may be interested in reading a summary of it as it stood at the time: https://gist.github.com/vcavallo/e008ed60968e9b5c08a9650c712f63bd
(I plan on rewriting this for a Nostr context)

The language is specific to the platform (Urbit) but you can glean the general ideas. We're working on bringing the "personal algorithm" and WoT idea to fruition generally, for all decentralized social platforms.