That article is a whole lot of words where it never really becomes very clear what the big "fear" is about, until we finally arrive at this:
"A feudal system in which the masses are duped into farming the lands of their crypto overlords."
Sounds quite a lot like our current system, but I digress. This fearful scenario requires the so-called hyperbitcoinization scenario where all of the world's wealth will be absorbed by Bitcoin (or other crypto). A market cap of 100T or more.
Which will never happen. It's easily suppressed by regulation. Most of the current elite won't allow it, and the people themselves, whom are already in the mood for protests, surely aren't going to sit by and end up dirt poor because they missed crypto.
As for crypto being libertarian, not really. Most are in it because it's a "number go up" technology, in good times that is. There's a small minority of loud mouths whom see it as a religion, but the vast majority are pragmatists, or plain gamblers.
Even if you consider the die-hard position, the so-called "anarcho libertarian", the author makes it out to be as if they are the devil themselves. All they say is that money should have controlled inflation and that there's freedom of transaction. I guess that's an extreme right wing position now? How very scary. It's pretty much how the 80s cash-based society was, except for the inflation part.
The biggest gap in these kind of "crypto scary" articles is that they fail to sympathize with the root cause. There's claims like "well, our current system may not be perfect, but at least it's democratic and accountable".
That sounds nice, but it doesn't mean anything. Young people experience one financial hardship after the other and grow up living in a monetary and economic system that is plain broken.
Where exactly can you "vote" on the 2008 crash, aggressive monetary expansion, zero interest rates on savings, 10% inflation? None of these things are democratic, they are hollow words.
Does crypto solve these problems? Probably not, but the above backdrop explains the appeal. In a system that doesn't work at all, why not throw the little you have in crypto? There's the potential to win big, and if instead you lose it all...it wasn't that much to begin with anyway.
If we'd have a sound monetary and economical system, that ensures a middle class existence and reasonable wealth for all, one that doesn't boom and bust all the time, one that preserves purchase power and savings, one that enables upwards mobility and the building up of assets, if we'd have all of that and in a stable sense...yes, then crypto has no use case or appeal. But we don't have any of that.
Own the failing of the current system. The status quo is completely broken.