As much as I'd like to see bitcoin thriving, I can't see people abandoning gold. Aside from the real use case that it has although not much, gold has been a reserve for a long time and so far gold is pretty stable and still function for hedge against inflation perfectly.
I believe that bitcoin will be there alongside gold for global reserve, both got the characteristic of scarcity and also got big demand.
We can always have both as global reserve, it decreases the single point of failure as well since we got diversification for the global reserve.
Just because bitcoin become global reserve doesn't mean we will just let gold go.
I agree with most of what you said . I also hope that in the future bitcoin can become a reserve asset like gold because bitcoin has a lot of potential in storing value. But I disagree with you that gold doesn't have many use cases , applications .
Unlike bitcoin, it is used only as an investment asset. Gold is the asset with the most practical applications and use cases, by far. It is used in almost every industry from technology, electronics, medicine, cuisine...not just for manufacturing and jewelry as many people think.
Gold is essential to humanity , and that is why I have never believed or agreed with any notion that bitcoin will one day be able to outperform gold .