His blog post is worth reading.
I agree with him. Bitcoin has been hijacked and its time is short if the community can't wrestle control back. People are trying, but the Chinese miners will decide the issue.
I think Bitcoin, or any other crypto, is kind of dumb as a currency. What makes a currency valuable is its statutory position. In my admittedly naive opinion, I think that if digital "currencies" have a future, it will be as a payment processor. The payments system is slow, bloated, expensive, and all we have. In 2015, it looks like the stone age. This is inexcusable, given what we know is possible. If the brain trust of Bitcoin continues to insist that it is a "reserve currency", and thus won't budge on the block size, then they are doomed to failure, and they get what they deserve. If that happens, I think the only effect on the world will be a slight delay in the changing of the guard vis payment processing. That system will fail, because the economics dictate that it is so. Bitcoin is in a good position to encourage that inevitable failure, but it doesn't have to be the thing to do it. So while I agree with your devil's advocacy, I think if the Chinese miners are holding off on updating, because they think they have an alternate store of value, then that very position is going to make their bet valueless. BTC's value is precisely in its ability to move from point A to point B with little friction. It's ability to be universally accepted for all debts public and private does not exist.