West77 brings up mostly valid points. He's absolutely correct that most people wouldn't want btc for $300 a coin, and if they got it they'd just sell it. A lot of bitcoiners are in fact living in a bubble, because it's nice in here and we all know what mess it will be if we go mainstream. Most people will be using ebanks, there will be fees on everything, and ultimately, we won't end up fixing anything about the finance system, if anything, we'd complicate it further.

Bitcoin needs a killer app, something exclusive to it that takes advantage of it and makes people buy it to benefit from it. Personally, I do not think that advantage comes from spending it at merchants. We need to specialize it to where it's useful: underground markets, anonymous probably fair gambling, remittance, and anything else you can't do with fiat easily. Then accept the fact that that's where cryptos are useful, that's their value, and move on.

Tl;dr, Something cool isn't always valuable or practical.