  It is often overlooked that local quantum physics has a built in quantum
localization structure which may under certain circumstances disagree with
(differential, algebraic) geometric ideas. String theory originated from such a
spectacular misinterpretation of a source-target embedding in which an inner
symmetry of the source object becomes the Lorentz symmetry of the target space.
The quantum localization reveals however that the resulting object is an
infinite component pointlike field. There are also other other areas in QFT
which suffered from having followed geometrical metaphors and payed too little
attention to the autonomous localization properties. This will be illustrated
in the concrete context of three examples. We also show that "modular
localization ", i.e. the intrinsic localization theory of local quantum quantum
physics, leads to a radiacal new way of looking at (nonperturbative) QFT. For
the first time in the history of QFT there are now existence theorems for a
class of strictly renormalizable (i.e. not superrenormalizable) factorizable
QFTs which are based on these new concepts. The paper ends with some worrisome
sociological observations about the state of particle physics and the direction
in which it is heading. These remarks are based on the results presented in the
three previous sections.
