No, I think that everything in my blog post was correct.
The statement about the price was deliberately vague ("long term", "should probably") because the Bitcoin price hasn't reflected the fundamentals for a very long time. You can't go straight from "this project is broken" to "thus the price will fall" because it's not an informed market, because of the large quantity of shady exchanges and so on. Take a look at what's been going on with Bitfinex to get a flavour.
If you assume that eventually, one day, reality re-asserts itself, then the price should come to reflect the systems actual utility, which is very low. But you know the old saying about how markets can remain irrational longer than you can remain solvent? I wouldn't try shorting BTC regardless of how much you know about it.