I personally don't see NgU as a first principle. Its a potential (and likely, and thus far proven-ish) effect of programmatically sidelining the peeps at the monetary controls with a consensus enforced fixed supply.

Because its consensus enforced it only works if Bitcoiners are willing to defend it (the supply limit). This answers your question:

Bitcoiners.

This is not a battle of exchange rate, its a battle of merit to having something the Fed doesn't control. They definitely control the exchange rate with the dollar tho, because that's half of the trade pair. So NgU vs the dollar will have to be in the face of adversity. After all they can shred and they can print. Manipulate both ways

The ultimate question is: what appeal does the orange pill have? And perhaps that answer is sovereignty more than NgU at this moment. At least that's what I personally pitch: freedom.