One blockchain hater said that blockchain technology is a "glorified database". Is this true? Are we applying some "magic powers" to blockchain technology? I don't think that this technology is some kind of magic pill, that will miraculously solve all problems.
Blockchain is the least efficient form of database, which is why it is
not the magic pill that can solve all problems. The only reason why it works for something like Bitcoin is that the decentralization demands it and all the benefits of Bitcoin as a decentralized currency overshadows shortcomings of the blockchain.