Many, otherwise smart, people still don't understand that there is no such thing as "intrinsic value." All value is subjective and is imputed by the observer. People value things for all kinds of reasons and it doesn't have to make sense to anybody else.
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 I would argue with the major premise of this article that Bitcoin is based on nothing.  All money is a measure of work done.  Every Bitcoin in existence was created through work and these days, a lot of work.  That gives it some value.  The fact that it is easily transferrable world wide and secure from being stolen if the keys are maintained properly, gives it value that things like precious metals don't have.  Unlike normal fiat money, it is based on work rather than debt.  That makes it worth more than fiat money.  The fact that it is easier to use for fast, international commerce makes it better than precious metals.  

Of course right now I have all 3 because each has a benefit and a problem/risk.  By having all 3, you hedge your bets best of all.  I'd say the only argument should be what percentage to put in each rather than why one is bad.