Its “monetary mechanism” for society is as a decentralized store of wealth, with no borders or governments controlling it.
What court will defend bitcoin claims?
If none—you are on your own...
That would assume that all Bitcoin holdings would stay within that framework, and nobody would every cash out any holdings - transferring it to the debt-based money supply it is truly backed by.
If Bitcoin stayed within its ecosystem, and had a means of an honest authority (HA HA) both controlling its cap and removing excess supply when the economy heated up, then I think it would make for a very interesting discussion.
Since it will never have that - it is just a playground for gamblers.