azzkika said:
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I am no expert but that is my understanding. Please let me know if i am just stupid, or could redshift in fact be entirely unreliable?
I'll give you my opinion. What you say doesn't sound stupid. I believe that redshift is not entirely reliable as a handle on distance. It is only as reliable as the model we use to derive estimates of distance from redshift measurement.
this is the mainstream cosmo model. It is supported by a lot of different data of different kinds that fit together surprisingly well. So it's pretty convincing and, absent solid evidence that there's something wrong, people trust it provisionally and use it. It is based on Gen Rel geometry which seems to work slightly better than Euclidean esp over large distances.
There are other measures of distance that one can use to compare with what you get from redshift using the accepted math model. The model so to speak harmonizes the different measures of distance, makes sense out of the different handles we have on the universe layout.
But there is no absolute reason the model HAS to be right.
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The physical picture of a spatial medium that stretches lightwaves is not accepted. So the physical reasoning you gave should be kept in the category of a visual image or a metaphor. Largescale geometry itself changes, distances* can change, but I know of no completely satisfactory simple explanation that fits with the physical intuition we acquire experiencing static earthbound geometry.
Other consequences of Gen Rel, besides expansion, are also unintuitive, like the GPS time effect. But Gen Rel has been checked to high accuracy as a model of how geometry behaves and the unintuitive stuff doesn't go away.
Probably we eventually need better basic intuition about geometry. Perhaps a quantum field theoretical understanding of space and time will someday resolve some of these puzzles and calm the feeling of amazement.
*even the distances between objects which appear to be stationary with respect to the background of ancient light