To think of the value of a global, jurisdiction-less, "money-for-enemies" network as nothing more than the result of how many transactions it can do on the base layer, is to miss the point entirely.  The difference between the payments systems and settlement systems of the world, their degree of assurances, and the desirable characteristics of their operation are often diametrically opposed. Listen to another of Nic Carter's excellent pieces to learn all about how "Transaction Count is an Inferior Measure."