Thank you for the thought-provoking article. However, we must remember that this entire cryptocurrency space is a massive experiment in decentralization and removal of third-party trust systems. I'm not sure why bitcoin must be the king. I know it was the first, but do you really think the market cares?
I do not believe blockchain technology is going to end, just like the internet will be with us for a long time (ever perhaps??). The genie is out of the bottle, so let's encourage innovation, usage and education. The rest will be sorted out by the market. If enough participants fancy a particular crypto enough, then that will become dominant. We should be careful not to become too attached to any one crypto for ideological purposes.
Lastly, I do not understand how governments will be able to fully regulate this space. Sure they can put pressures on exchanges, but how do you regulate something that is everywhere and nowhere at the same time? Look at the drug war. We have had this senseless stupidity with us for nearly a century and drugs are still being sold. Now it seems certain products are becoming legalized again. The government cannot keep something illegal forever if the majority of people demand it.
At the least, it certainly is interesting what is happening now.