What's the fallacy you're debunking, and who commits it? I'm not aware of anyone arguing that Bitcoin is highly valuable because all things with a limited supply are highly valuable.
The deflationary nature of Bitcoin is a commonly used property to assert that Bitcoin is designed to increase in value over time due to artificially programmed scarcity.
However, I don't think GP's parallel lines up, as another commenter pointed out.
In any case, a single satoshi, which is the smallest denomination of Bitcoin (10^-8 of a Bitcoin), is worth about 0.05 cents as of writing this comment. If Bitcoin didn't have such large transaction costs, slow transactions, and price stability, it's scarcity would be way less of an issue due to this really large level of division of a single coin.
However, I don't think GP's parallel lines up, as another commenter pointed out.
In any case, a single satoshi, which is the smallest denomination of Bitcoin (10^-8 of a Bitcoin), is worth about 0.05 cents as of writing this comment. If Bitcoin didn't have such large transaction costs, slow transactions, and price stability, it's scarcity would be way less of an issue due to this really large level of division of a single coin.