It's understandable that you're skeptical about the use of "game theory" as a rhetorical device without clear application or rigorous analysis in the context you've described. Game theory, as a field of study, indeed involves formal mathematical models to analyze strategic interactions and decision-making among rational players. When people invoke game theory without presenting a detailed analysis or using it merely as a rhetorical tool, it can detract from the field's rigorous approach and the nuanced insights it can offer.

In the text you provided, while there are mentions of strategic behaviors and incentives within the Bitcoin ecosystem, the observations seem more aligned with general strategic analysis and market commentary rather than formal game theory. Game theory typically involves defining the players, their strategies, the rules of the game, and mathematical modeling to predict outcomes based on these parameters.

If the analysis lacks the mathematical rigor and formal modeling that characterize game theory, it's reasonable to question the use of the term in this context. Clear differentiation between strategic analysis, market commentary, and formal game theoretic analysis can help maintain the integrity and clarity of discussions related to complex economic and strategic phenomena like Bitcoin adoption and market dynamics.