@alkan, thanks for that. I hadn't bothered to even look at BU, so that is first time I've seen that white paper. I just got back from running an errand so I will read that paper and respond soon.

Peter R. Rizun has another video explanation (I believe he is the very smart @Peter R from our forum?)

Edit: I think I already see the math error in @Peter R's thesis, but wait let me study carefully to the end of the paper. The big hint is his cost of block space goes to 0 when debasement rate (misnomer when called "inflation rate") goes to 0. It is because his math is not properly relativistic (which is surprising given he claims he is a physicist).