That's correct, but this shouldn't be understated. Bitcoin provides the ability to be sure that a transaction is legitimate when you're on the receiving end, an

That's correct, but this shouldn't be understated. Bitcoin provides the ability to be sure that a transaction is legitimate when you're on the receiving end, and that the it can't be canceled later. This can be done without knowing anything about the person on the sending end, much less require a level of trust based on the sender's reputation.