That is because it is a centralized currency.

They themselves hold what, 65 or more percent of all XRP? And it can't be mined.
That is the exact opposite of what Bitcoin tries to achieve.

Sure I get the "institutional money" argument. Yes. For mass adoption we need be corporations and such to boost crypto. But if it works just like the old fiat money, except for being on the internet. Nothing is gained.

Personally I don't care much about ripple, but since you basically asked a question in your article, I thought I am gonna answer what I've heared so far.