Of course he is right - it might end up with zero - then again so might the US dollar, or the Euro. In my view all of these scenarios are unlikely. As for touching Bitcoin, most people who buy gold - 98% of them never see it. This is more junk coming from an establishment who are too lazy and too complacent to understand what is actually going on here.
This right here is something good to go off of. Analysts like to make these shitty predictions and then alter them in the future when things change, they're unable to make long term predictions cause they're wrong about 99 percent of the time.
Morgan Stanley is also playing into their ulterior motive of trying to kill Bitcoin, as they know the damage that it can and will cause to these established banks if it was to gain popularity and go mainstream.