It’s sorta looking that way. It’s hard to imagine anyone wanting to lend BTC. And it’s hard to imagine wanting a loan in BTC.

If fiat is still around, it is ideally used as debt since fiat money are liabilities anyway. If fiat is gone and the world adopts BTC, it’s possible that we don’t have any major debt in the world. Most financing would switch to equity financing.

If you want a home, instead of taking out a huge 30 year loan on a big house, maybe you buy a small modular home with cash, then add sections to it in modular fashion as your savings grow. That’s one thought anyway.