Stephen Diehl is unfortunately blinded by anti crypto hate, so his arguments on the subject usually don't make much sense. Which is weird, because he's obviously a smart guy. This is no different, I don't know why his posts keep ending up on HN.
I predict this will calm down once the Ponzi-era fades out (whenever central banks finally decide to tapper), but it's still always going to be a problem which we need to find solutions to.