It really depends on how territories evolve. If that one catches on, there is a big market ahead and potential good monetization.
If it does not catch on, then i think SN might stay a fun little place for Bitcoiners to hang out, but pay outs will be something uncertain depending on occasional boosts, internal and external donations, job postings, etc. Not a stable stream of sats.
And development and maintenance costs money too of course.
That's based on the premise that a platform such as SN needs to satisfy those 3 conditions.
I'm curious about a future where these may be satisfied, but for now, my experience has been much better here on SN than on NOSTR for instance.
I think centralization in many cases is just a better user experience. Also, it makes the most sense for most applications (that's why most shitcoins don't solve any problem, as most problems don't need an inefficient blockchain construct). Except for a small number of people, no one actually cares about having their social media being censorrable (also, currently, NOSTR already feels quite centralized in terms of available relays).
I like browsing Hacker News, because Dang does (or at least, used to do) such a good job at moderating the platform. SN tries to use sats to replace said moderation. It's a new experiment, beyond the traditional Web 2.0 paradigm.
Not sure what P2P would mean in the context of SN as here the goal is to reach many people at once. You need some type of platform for that, be it relays or clients in NOSTR, or the current platform here.
As said in my other answer though, if it does not generate steady income, it'll die out. VC funding will dry out. As it should.
Sorry, I'd like to reread and structure my rant above, but I need to go. Feel free to ignore :)
I am enjoying it. It has a very good community. I think the only problem is that SN doesn't have a FUN Day kinda thing. It must have a place, I mean territories, which are fun loving.