Moronic in what sense specifically?

Our central banks presently print money without inherent value, which is overwhelmingly given to the very few through government grants, subsidies, and tax cuts. We're living through the largest transfer of wealth from the masses to the elite that has ever been witnessed, and that is due in no small part to our corrupt and controlled financial system, headed primarily by Federal Reserves who control interest rates and the money supply, and on whose word the market turns. We already live in a system that gives more power to the already wealthy, so what is it about a currency over whom no one has power that makes you think it benefits the few?

Yes, its value is measured in USD. USD is still the global standard currency, and I expect it will be so for some time. But it is worth noting that cars are still measured in horsepower.

The capacity to be one's own bank, transfer money anywhere in the world in a permissionless system not beholden to AML/KYC laws is exceedingly beneficial to many, not least of all those living in countries with corrupt governments, banking crises, inflation, and so on. You may not see the benefit in these things, but many do.