What role does reputation play in web3?

I think an important part of crypto that doesn't get talked about often is how important reputation is within the space.

I remember when the Binance P2P restriction happened in my region, I picked the one I use now because there was a lot of recommendations from people around me.

And it's no surprise that I'm still using Bitget till now, or that they were named Exchange of the year for this year, proving my point earlier.

It's the same with BTC when compared to alts, people trust it because ot it's reputation.