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
sorry i'm missing how DPoS is a viable option (apart from being a passing buzz word)

i think the flaw is endemic to any ledger type option and thus that is what should be changed (which would solve a hell of alot of other issues too like, privacy, centralisation etc).