Yes, but... We're just assuming that legislative bodies can control their spending. Bitcoin will force them to balance their budget - but has that ever happened before? What if they just can't?
Discussion
Maybe not. People made bank notes and currency bills on gold forever. Most people will end up using some stablecoin and that'll ruin things all over again. Even though we have sound money, it doesn't mean the enemies of humanity will just drop dead on their own 🤔 so I dunno.
On the bright side, we have a chance now. Bitcoin + 3d printers could be enough to remake everything.