IMO he only makes any sense if you assume that bitcoin will be the only widely accepted currency in the future, the threat is other people not mining transactions that are linked to you, so nation states if they can’t be anonymous will want miners. I don’t think there is any more to his thesis than that.

Aside from the above, I think his whole thing about using bitcoin to secure “certain control actions” and using energy as being better than logic for security just misunderstands how computer security and Bitcoin work.

But I’d be more than happy to find examples of some computer security thing that disproves that.