Without a general purpose (i.e. Turing complete) and sufficiently expressive programming language (i.e. providing an idiomatic and expressive manner to build general-purpose logic) associated to the ledger you cannot build scaling technology that inherits the self-custodial, permissionless, and censorship resistance qualities of the underlying ledger. Nor a financial system that inherits those same properties.
If you think about it you are very limited in what you can do. You have an asset that you can self-custody, exchange permissionlessly and without censorship which is good to fight what the original article is about. But you cannot build any financial product on top of it that would have those same properties. Nor be able to scale the transactions per second that the base layer does while keeping those same properties. And I find it very unlikely you can serve the entire world with 7 transactions per second. So yes, there is plenty to innovate on its core function.
If you think about it you are very limited in what you can do. You have an asset that you can self-custody, exchange permissionlessly and without censorship which is good to fight what the original article is about. But you cannot build any financial product on top of it that would have those same properties. Nor be able to scale the transactions per second that the base layer does while keeping those same properties. And I find it very unlikely you can serve the entire world with 7 transactions per second. So yes, there is plenty to innovate on its core function.