The Cato Institute just released a new report with the above title--will Bitcoin bite the dust?

I guess most people here would disagree, but does anyone have a response to this report?

Any rebuttals for ideas like that the BTC mining industry is a natural monopoly because of economies of scale?

 Is there such a natural drive toward centralization and will it kill off Bitcoin?

Here it is: http://object.cato.org/sites/cato.org/files/serials/files/cato-journal/2015/5/cj-v35n2-12.pdf