Indeed. I don't want anybody's money to just vanish. And while as others have pointed out, the numbers are a measure of productivity for somebody, the ability of workers to capture their own productivity in wages is not guaranteed.
The ability of workers to capture their own productivity gains is a lower than it's been in a century. This crisis will push the second derivative lower.
But we don't like talking about M2V[0] anymore because it didn't jibe with the daily propaganda for years that all is well
People, especially the press, don't talk about M2V because they don't understand it. No one does outside finance or econ classrooms, and most of them don't either. BTW, jibe, not jive.
Maybe productivity gains are vastly overstated? Or more specifically, productivity numbers are distorted by a few industries that have had extreme productivity gains, while most have stagnated.
You are offering an explanation for a situation in which everything is fine. Unfortunately we already know that this is not the case.