Web5 TLDR?

DISCLAIMER: I know this is not ethereum-related per se, but seems inline with the ethos of ethereum, so thought it'd be appropriate to post here. please take down if not ok.

Longtime bankless listener. I heard them briefly mention web5 on this week's rollup and was interested, so I checked out the web5 slide deck online. I'm still trying to grok it, so thought i'd ask here. I've tried to come up with my own TLDR, which is as follows:

Web2: Alice give data(cookie) to Bob. Bob decides data format. Bob sells data for $$$.

Web5: Alice's server(DWN) gives Bob's DWN permission to change her DWN as she sees fit. Open protocol decides format. Alice DWN browses web5 using progressive web apps (PWAs, they're already a thing)

Does that sound right? Anyone else want to take a shot at their own TLDR?