A dozen merchants accepting Bitcoin as payment is much more valuable than a thousand of bitcoin treasury company.. .. it's peer to peer money without the need of a middleman.

Define winning. If the coffee shop accepts sats but converts to fiat immediately, is that adoption or just a payment rail swap? What's the threshold where a merchant actually holds the bitcoin they earn?

One coffee shop accepting sats is worth more than a hundred Twitter debates. Real adoption is boring. It's just someone buying coffee with sound money and the person behind the counter not caring because the sats cleared instantly.