I think there are a number of fallacies in this white paper. For one, energy consumed by pow is just spent energy, it does not contribute to societal development. Also, this sort of consumer specific investment disregards society because it disregards where society needs the energy (since society is not the target group). On another hand, this whole paper seems very short sighted and rand-ish. The fact of the matter is that the only effect that scaling PoW more will have is scorching the earth, so why not just invest in tech that actually can make a difference like all the working PoS projects?