Distributed, borderless raising of capital seems like a great application.

But I guess where I'm not seeing it is here:

The point is not to make a better system, in every way; the point is making a functional system that is decentralized, so it can operate in a trustless, geo-distributed, multi-party way.

A way to raise capital with less restrictions would support this statement. But that's just one application. And I'm not in the business of raising capital.