No. It just assumes there is no utility in the underlying tech, someone who believes vaccines don't work could make the same argument. Most people trust Morgan-Stanley when it comes to financial instruments more than some bozo on the internet.

You do have to drag stubborn people, kicking and screaming, into the future or they will continue using old tech. The article is framed in the past tense, "someone tried", "the crypto grift was". As if it's not currently swallowing the world. I guess he is so maximally sensible that he self-assess faster than MS and realizes bitcoin just isn't for him every time.

He has a strange hyper-specific definition of utility and productivity, (wrote my MSc, had fun) don't count.