You could be right -- I viewed the 'btc milkshake' thing in a more conceptual way: something stronger absorbing the flux of the weak things fleeing to value.  

But I just learned what any of this meant like an hour ago, so my opinion isn't worth much :/

elvismercury

bitcoin

Bitcoin Milkshake Theory Happening in Japan 

graben

From reading your linked article, it doesn't look like the milkshake theory transfers well to Bitcoin. If the milkshake represents liquidity being injected into the economy with a period of QE and low interest rates, and the slurping through the straw represents an ensuing period of higher interest rates that lead to carry trades, it sounds dependent on international spreads on interest rates (which Bitcoin has no concept of).