Obtaining massive Cantillon style loans and declaring business bankruptcy will be much harder.

Agreed. Which is why that is not what a smart competitive person would do on a bitcoin standard. They would probably consult with successful miners to figure out how to squeeze out smaller miners in order to maximize profits. It's pure competition. Puck, race car, or ball. Net, finish line, or hoop. Regardless of the forum, there are those who see the path to finish first or score the most. People who understand the game will succeed. People who don't will feed on scraps. Who do you want on your team?