So what has exactly happened to the Bitshares
The post isn't about Bitshares, it's about currently existing consensus mechanisms and their long term viability. Neither PoW or PoS have a viable end game, so you can either walk away from crypto completely, or:
A) Go with the only existing option which actually does have a viable end game, even when scaled to global reserve currency - DPoS
B) Hope that Vitalik, Fuserleer, or Anonymint will some day release something better, but the consensus mechanism of all three projects is currently vaporware
I would honestly make the argument that whether by coincidence, or by design, DPoS actually functions better when scaled to world reserve currency than as a small market cap coin. What other consensus mechanism has characteristics like that? Each nation state easily integrates into it's delegate system, making it hard to question it's validity or sybil actors at that point. Even the global equities exchange would run on the same platform at the same time.
I think it's possible Vitalik, Fuserleer, or Anonymint may invent a system that appeals more to the anti-govt anarchist than Bitcoin or Bitshares does at some point in the future, but I don't think any of their systems will scale to global reserve currency as efficiently, or while running global distributed exchanges on top of the same platform.
Before Anonymint responds, anything not on an exchange is vaporware.