REITs are a different structure. They have management levels involved, with associated fees. The overall framework is valid as a mental concept but there are a lot of nuances with tokenization.
It appears many of these platforms are looking to operate as DAOs, at least in part. It will be interesting to see how the automation of certain aspects of the business go, meaning they could be in for some headwinds or provide some major breakthroughs for the real estate business.
Your totally right, to me real estate just became much more fun.