I would argue that both of the defects listed are not actual defects at all.

The lack of regulation means that in it's permissionless nature it allows anyone the opportunity to innovate and make progressively better products. It's also extremely transparent at it's core. After all it is a public ledger and publicly available software so there is nothing intrinsically opaque to it.

As far as the defect to it's power usage I still consider that it's core fundamental property that gives it value. For the truest form of security bitcoin has tied it's existence to a property, the production of hashing limited only by computing power (thus it's tie to electricity), that can not be easily defrauded against. Correcting this would traditionally mean a more corruptible system.

Bitcoin offers far too many advantages in comparison to traditional money for me to list here. Understanding what bitcoin is and the fact that owning a piece of bitcoin is owning a piece of the bitcoin community's economic output is enough of an advantage for me to want it in comparison to traditional monies.

As far as if they can win the market's adoption I guess only time can tell. I for one am staking my claim that they will succeed. I don't see how anyone would want to stay in the old systems now that bitcoin exists.