MicroStrategy now owns more ₿itcoin than the USA and China combined.

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This birth of ₿itcoin debt is happening in real time whether you or I like it or not. I personally am looking forward to when I can post my ₿TC and borrow against it without having to sell. Maybe in a 100 years fiat will have been retired and these ways will not exist.

I fail to see any real advantage that Bitcoin debt provides.

if we're not fighting for a REAL Bitcoin Standard

and instead just excited we can get fiat loans for BTC

because we're early and NGU,

then its still fiat thinking.

Governments can just make money out of nothing

True but not ₿itcoin, so what are you saying?