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I think there is value in being able to write up an online contract (code) that is able to manage money for two parties without needing to go to a bank or some third party to act as the middleman.

It's the same thing as reading the terms and conditions.

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Human transactions can 'easily' be undone in a court of law, and yet are still so painful to undo as to necessitate a trusted escrow agent in many of them.

This is making it so there is no "undo", and no escrow agent. There's value, for those looking to take advantage of others.

This is the fulcrum point of the argument, and until you've been on the wrong side of, bluntly, legal bullshit, you just won't get it.

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