I read a lot of it and the basic premise is that in the natural world “might is right” and you can’t fake it. In cyberspace everything was based on rules enforced by logic until bitcoin came along and imposed a physical cost for interactions. It’s more than just PoW though obviously because with bitcoin you have a whole system engineered around it (difficulty adjustment, finite supply, etc) that imposes further costs. Spend your bitcoin chasing a honeypot? It’s gone. GG.

Honestly his talk in the MIT lecture hall and his interview with McCormick covers most of it. He speaks in vague ideas probably because it’s not smart to divulge true military advantages if he has them and/or trying to get them.