this is really nothing other than very straight forward "Insurance". In the long run, the optimists almost always win. Keeping money sitting idle and constantly rolling short dated put options is not a particularly sophisticated trading strategy.
How many other traders out there look forward to bubble bursting events like this? Commodity disasters? Oil disasters and shortages? The whole "dumb money" (retail trades, casual investments, passive investment funds) vs "smart money" (day traders, hedge funds, insider traders, HFT) would lead me to believe that it's beneficial to exploit the excessive pumping up and bursting of financial bubbles, as it only siphons up 'dumb money'.