The reason why I say that time is fundamental is that time (the block) is inseparable from the transactions, or events in your wording. The measurement is inseparable from transactions and events occurring. The entropy is also fundamental, as without configurable states to perform work on, time cannot be generated. Time here is coordinate, a process and object bounded by some extratemporal ruleset that pre-exists the time generated. I guess you could argue the only thing truly fundamental is the ruleset.

Bitcoin is an external measurement of time (we are not composed of its blocks of time) which allows us to observe how time is constructed and its behavior. We see both the before state, the transformation and the after state with full clarity.

Hope this makes sense, sick with the flu and the brain fog is crazy 😵‍💫