That statement has so many false, implicit assumptions and beliefs its crazy.

"We would definitely use that computing power for curing cancer and nothing else."

"That computing power can be redirected for other uses."

"That computing power can be taken as if it was controlled by a centralized entity."

"No one needs store of value."

"People should think proof of work is bad."

"The number of wallets and proof of work should be correlated somehow."