First, the topic is not about accumulation; it is about using Bitcoin as a medium of exchange, particularly for day-to-day value exchange, and how merchants/businesses that play a major role in that field are affected, given that they mostly still run their businesses and accounting on the fiat standard.

Except we'd relegate Bitcoin to just a "Medium of Storage of Value (measured in fiat)", then certainly we can talk about accumulation and halvings all day.