The Graph as the Google of blockchains, does the analogy hold up?

The analogy works at the function level: both organize large amounts of distributed data into something quickly queryable. The difference is that Google indexes data centrally and The Graph does it through a decentralized network of incentivized participants.

The "core infrastructure" positioning is what matters for valuation. If every serious dApp uses subgraphs, GRT demand scales with Web3 adoption broadly rather than with any specific protocol or use case.

The risk is that a well-funded centralized alternative builds better developer tooling and pulls projects away. The decentralized model is more resilient but potentially slower to iterate.

Is The Graph decentralized data layer the right long-term infrastructure approach or will centralized solutions dominate the practical dApp development market?