Also, nobody in the field disagrees that in the more distributed grid we are seeing today, more endpoint communication and control could lead to more resilience. Whether pricing signals are the best path is a more open question, but they certainly appear to be a feasible option.
No it doesn't. The fact that it's being said in a comment full of nonsense tells me that they don't have “above-average understanding”. They probably have read something, once, and now thinks they are an expert, that's literally what Dunning-Kruger is about.
They seem to believe that the equilibrium of supply and demand is all that matters, when it's just one piece of the puzzle and among the easiest to manage. Large, nation-scale, failures like this one are very unlikely to be caused by a lack of supply alone and markets are nowhere near fast enough to help preventing these.
The bigger the grid, the more efficient and resilient it is (and managing electric grids on islands is a nightmare), but it comes with a significant complexity and means restarting from zero is harder.
Like, what can you do, use some 1000 of MW to melt iron rods or something to give the power stations time to slow down? Free wheels?
Don't you realize that the smaller the grid, the more important the instantaneous load variations can be in relative term and the harder it is to keep things running smoothly? It's not a theoretical concern, it's why electric networks on islands are much harder to work with and much more prone to collapse than bigger networks.