Thoughts on MV=PQ ?

I recently read this article that described the MV=PQ equality as being a tool for governments to compare the size of their monetary supply with their annual domestic output. According to the author, cryptoeconomists are treading down a slippery slope when they apply this same equality to crytpocurrencies.

I'm interested in people's thoughts on the legitimacy of MV=PQ in the crypto space, and whether or not this author is making a decent point..

https://medium.com/@brian.koralewski/mv-p-que-love-and-circularity-in-the-time-of-crypto-2b84074fa2d2

EDIT: I posted this to r/EthTrader because I assumed it would be downvoted into obscurity on r/CryptoCurrency lol. I'm hoping ppl here are more open minded 😛

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