There might be people who would put it that way. I think the first point needs to be amended with something like "...but no one has sufficient information to respond to shocks in a beneficial way."

Bitcoin does provide some healthy competition for the fiat monetary monopoly but only where fiat debt capital issuance is being misused and abused as it is in the west today...and only if Bitcoin is a practical MoE, which it is not in almost all economies because it is either banned for use as a MoE (in 70% of the world) or allowed but taxed heavily in the other 30% where MoE use is not explicitly banned.

The fiat operators have effectively captured and controlled Bitcoin use limiting it to a relatively harmless role and narrative as a speculative commodity, KYCed and taxed, while MoE use has been either outright banned, or made so inconvenient it is not used as a MoE except by a small minority who are prepared to ignore tax recording and reporting requirements- like us, zapping, on SNs.

Where fiat debt based capital issuance is applied with discipline and focus it can enable more rapid and vigorous economic growth providing the host economy with a competitive advantage over other economies where such discipline is not applied.

This is part of the reason that China has won the trade war and enjoys annual trade surpluses over $1T while western governments and economies have suffered chronic trade and fiscal deficits and now are at risk of losing their legacy hegemony over the global monetary system.

The wealth of nations is considerably influenced by the quality of their governments. In the west governments have been captured by parasitic rentseeking bankers who misuse fiat issuance for their own enrichment but who are ultimately undermining the wealth of most other participants in their economies.

I would disagree with that...with provisos. Individuals/private investors are primarily self seeking for their own gain. A government with sufficient honesty and discipline can invest or direct captial to be invested in infrastructure and productive assets (including citizens skills and R&D) with a broader more strategic and longer term vision. This is what the CCP in China has done in multiple areas. Fpr example they use fiat capital issuance to build massive power generation projects such as the The Gorges on the Yangtze river or coal or gas or nuclear power plants- this new power generation is supplied and available to any private enterprise who can use it and in the past was often used by Bitcoin miners. Anyway by supplying power to an regional economy it stimulates productive potential and multiple subsidiary economic development and investment. This has been a major prong to economic development in China in the last 4 decades and has delivered mostly good results. Only a government has the mandate and ability to push through these projects and if done well they unleash huge latent potential that might otherwise have remained dormant. The west used to do this sort of economic stimulus but since neoliberal voodoo economics, or should I say since the bankers came to largely own western governments, this does not happen much. Private enterprise works well in a competitive market but in many cases investment in and development of basic economic infrastructure and supply chains requires a broader more strategic viewpoint- which governments that are motivated can provide and fiat capital issuance can help fund such developments without being an undue burden upon the citizens whose currency has been debased, as over the medium- long term, such projects when done well can deliver a stronger more prosperous economy than a solely private capital funded one could. Chinese are now building an ever bigger hydro project several magnitudes bigger than the three gorges, just above India and Bangladesh... Another example is the power efficiency drive initiated and pushed by the CCP since the early 2000s- it was simply about acknowledging Chinas energy deficit (dependence on imported fossil fuels) and the logic of improving energy efficiency across the economy for producers and consumers- the result- China leads the world in production and use of Solar power, Wind Power, LED lighting, EVs, Lithium Batteries and high speed electrified bullet trains. All this increases the Chinese economies energy efficiency and has also delivered billions in receipts from exports. You might argue private enterprise could do the same- but No private enterprise does not have the ability or motive to think and act in the best long term interests of the national economy- only a good honest government does.

This may seem like semantics, because we currently have a debt-based money, but most of those cases can be handled by functional credit markets.

In a hard money system, extending a line of credit to someone is not the same thing as creating new money.