Bitcoin is made to be used by people, so if it fails to account for basic human characteristics, it fails as a popular currency.
"It works for the knowledgeable and those willing to constantly be on guard" pretty much excludes the majority of people.  If I have to consult WOT before buying a stick of gum, I simply won't buy it.  Ease of use is pretty important for a currency.

If the "expert user" defense works, it works much too well.  It would show, for instance, that coding in assembler should obsolete every other language, since a knowledgeable coder, given sufficient time and motivation, would produce the tightest code.