You have very valid points here,
however from my observation, that because it is a block chain, it stays forever. When people tend to put social media first, I mean a lot of the majority, not everyone tend to think twice before they post.
Look at the twitter wars and the other major social media wars out there. You can probably take back what you posted by deleting it, but here, after 7 days, what you said, pretty much stays forever, transparently
Other social media platform still has privacy, because we are creating crypto currency, a.k.a printing money , nothing can be private here, not even our transactions.
So when we look into this platform we have to think in a totally different perspective; it is neither one side of definition, there is no which is first and second, but both of your points weighs equally heavy, making this platform unique in its own way.
That, will be my take.
Though, I think that in a world of such transparency, where somebody's entire past can be searched, we'll hopefully learn that people change and be more forgiving as a result.
I hope so too. But it is more of those's past that could be used for malice, if you know what I mean. So whatever we put out, we must be ready to hold responsible. I try to remind myself daily whenever I post or comment anything.