virtual versions of their currency online.
It's really, really tricky to do - a decentralized peg to external fiat currency with no central/internal control on-chain.
a rather flawed version based on artificial scarcity
Well, yeah. The get rich quick pyramid distribution is necessary to induce gold fever and guarantee hype (as seen in perpetual carousel or half-assed alts dangerously overselling their wares). People still wanted the stable fiat peg for other stuff, eg on chain fiat/btc exchange. Not going to happen (unless you make it a underwritten fiat XCP/CC asset, at which point it's no longer on-chain decentralised) unless central banks and government bond markets are actually on that chain, ie internal to the system.
A team with leadship in the realm of security
Yes, some people take an issue with that, fe:
https://blog.hboeck.de/archive...
Some naysayers are of the opinion that Theo & his peck are good at writing well designed software from scratch (eg openssh), however their "securing" of existing codebases (eg bsd kernel and libc) ended up in trainwreck. libressl is sadly the case of the latter.
The mining operation doesn't give an advantage to early adopters
If it walks like a ponzi (early adopter with well timed exit profits massively), quacks like a ponzi (you need to recruit more suckers into the scheme to profit) and has feathers like a ponzi (greed is the main incentive to participate), most laypeople will perceive it as a ponzi.
That being said, calling it a ponzi is indeed not fair, as one attribute is not shared - ponzis or penny stocks, or whatever have no interval value at all, thus the inevitable crash to 0.
But when you tack some value to it, however dubious, (be it herbal medicine; or be magic internet payment system), and use ponzi as a carrier for viral marketing scheme, you get multi level marketing - or so called pyramid scheme. When pyramids crash, they do so to inherent internal value as determined by participant consensus.
People conflate MLM with ponzis often because of the many shared attributes. Just like recruiting for AmWay alienates your friends and family, so does bitcoin, as people realize the distribution is pretty much based on the same principle.
Bitcoin is of course here to stay, for better or worse, however I doubt it ever becomes mainstream. Too much of world population need to have this illusion of just world and will gladly accept keynesian system (with obscured unfairness) over aggresively austrian one for a long time.
To do nothing is to be nothing.