[jacobn]

A large fraction of the field of economics is about taking that tremendous force coming from the desire for personal gain (= greed if you will) and turning it into a public good (= the enormous abundance the markets have delivered) while avoiding some of the most egregious harms (= "externalization of costs, privatization of profits" = exploitation, pollution, overfishing, etc, etc).

What I believe OP is talking about is how the blockchain made it possible to incentivize people to mine, thereby delivering the service of the public good of the blockchain.

Sure, all of those individual points are of perhaps debatable value, but he acknowledges that while maybe mining or staking aren't quite it yet, the fundamental blockchain tech still enables decentralized coordination and the creation of a public good through private incentive.

Which is no small feat.