Revisiting the old problem of existence of interacting models of QFT with new conceptual ideas and mathematical tools, one arrives at a novel view about the nature of QFT. The recent success of algebraic methods in establishing the existence of factorizing models suggests new directions for a more intrinsic constructive approach beyond Lagrangian quantization. Holographic projection as a simplifying tool for certain aspects of QFT turn out to be an indispensible part of these new attempts.