This is a pretty good critique. But the fact of the matter is that PoW can simply be taken over at will by, as the author points out, if any single entity that buys up enough compute power. Alternatively, if you take out enough of it, the transaction speed for block creation slows beyond the crawl it already runs at and there’s an entirely different issue.
Currently, there are only 2 use cases for BitCoin:
1. Illicit activity: money laundering, Fentanyl/Heroin/Meth sales, child porn, blood resources (diamonds, oil, etc.), arms, ransomware, etc.
2. Speculation/Gambling: otherwise known by BTC folks as “investing”

That makes up 99% of the transaction activity.

All the sorts out there talking about “freedom” or “capitalism” or “libertarianism” are poorly educated or have a stake they need to justify.
They rail against “government”, but what they really rail against is the inability to freely carry out the above-named activities in 1.
If they cared about freedom or personal liberty in a real sense, then they’d be out there trying to protect and advance western liberal democracy. Instead, they’re playing at being something that you’re not.
The notion of decentralized crypto-currencies is a godsend to all the corrupt undemocratic regimes in the world.