real innovation would be: your identit[y/ies] and social graph[s] live entirely in the blockchain. like bitcoin for identity. social networks compete with features, vibe, design, niche, business model, for-profit/nonprofit status, privacy, and culture. you are you no matter which social network you grant permission to access your identity. own and guard your identity on an encrypted thumb drive, or never learn what that means and someone else hosts it for you. the big blue mass market social network and the indie web freak show social network can live side-by-side, because these become products built on top of an open, distributed social graph, owned by no one and everyone.
the dudes running ello seem well-meaning but this will always be corruptible as long as some entity other than you owns and controls your identity.