I agree that the author could’ve done more to make the case for the other side. Where I have some firsthand knowledge, I find eg his suggestion that Binance and FTX divided up markets based on US geopolitical affiliation implausible and unconvincing.

Nonetheless, it’s fair to wonder if crypto has meaningfully lived up to any of its promises and why it has been hard to point to examples of value creation in crypto in a way that would make sense to an average person