We don't necessarily have a problem with "programmable". It's the "money" part we have serious doubts about. The huge swings in value do not persuade us that it's very good at being "money".

The other issue is that it's designed to be able to avoid all government control, which means all regulation. Events from Mt. Gox up to FTX show that the regulations serve a useful (or at least necessary) purpose. Avoiding them - making them impossible - leads to a financial world where many people lose their shirts.

Those criticisms have substance. They are anchored in events that actually happened.