I don't think that has to happen for $1M bitcoin.

It can happen if only a small fraction of the world's wealth decides that they want a non fiat based CDS on USD.

The severe pain that's coming is unavoidable but I believe it will take longer than 3 months to play out.

I like that as a Bitcoiner I don't have to hope for the collapse of the fiat system to be right. It's different to being a gold bug in that bitcoin can operate & integrate with the fiat system if they allow it. Bitcoin changes things but it doesn't require complete destruction of the old system first.

I agree that musing over the price of bitcoin is largely unproductive, even if it is entertaining.