But sometimes the free-market will save also... as suddenly those who make good sites are at a competitive advantage.
If you could make a good site then why not sell stuff for USD? That is why my hopes are for a) remittances (shady/ hugely bloated / noncompetitive industry) b) poker (illegal in usd) c) drugs (illegal in USD) d) sexcam (paypal won't handle it and it could dramatically reduce the costs of entry for individual providers and cut out gouging middlemen)
For other commerce, bitcoin has wasted rewards on early adopters that could have been shared with adopting merchants (under alternative currency generation rules). On the plus side, further growth in the shady stuff could bootstrap future growth in the legitimate stuff.