I'm assuming they mean the old way of signing each others signatures.

As a practical implementation of "six degrees of Kevin Bacon", you could get an organic trust chain to random people.

Or at least, more realistically, to few nerds. I think I signed 3-4 peoples signatures.

The process had - as they say - a low WAF.

In a signature context, you probably want someone else to know that "you" signed it (I can think of other cases, but that's the usual one). The way to do that requires them to know that the key which signed the data belongs to you. My only point is that this is actually the hard part, which any "replacement" crypto system needs to solve for, and that solving that is hard (none of the methods are particularly good).