Interesting take, Chris. I do disagree with it pretty much completely.

Fungibility is a highly desirable feature of money.

Physical gold is the closest we’ve historically come to having a trust less ledger, until Bitcoin. Intrinsic value is, if anything, an obstacle to how good a commodity can act as money.

And since bitcoins are just numbers, they have zero inherent value and function perfectly as the monetary units in the trustless ledger that is Bitcoin.