So build a non-distributed trust-based system based over top BTC instead of something else? Gold would be a much better thing to do that with?

" without going through the traditional gatekeepers of our current financial system. "

You can make create a bank anytime you want and rules are in place for regulatory reasons. If BTC ever becomes important, the same rules will apply.

So:

1) Currency -> Too expensive. 2) 2cnd layer -> Gold is better. 3) Store of value -> almost every classical store of value is better.

These are are all 'how we can make BTC possibly useful' instead of 'why BTC is useful'.

It doesn't tick any of the boxes.

There will be public ways to short BTC soon I wonder what kind of effect that will have.