Short term, perhaps, but you shouldn't invest in GBTC for a quick flip. It's designed for those who believe BTC has a long-term future. Once the price of Bitcoin is more aligned with the share of GBTC, then it won't matter (there will always be a premium for ease of purchase, management, etc.)
I agree with your points on the premium decreasing because of competition and other factors. I spoke about that in the video too.
Good point. I think I will wait till most of that premium is sucked out... that or wait for an ETF. :)