Make it even more extreme. I bet that the Treasuries would also outperform if you take 10'000 year timespan. Simply because: Which company would really survive

Make it even more extreme. I bet that the Treasuries would also outperform if you take 10'000 year timespan. Simply because: Which company would really survive 10'000 years, huh? So the total return would be 0. And as long as Treasuries>0, that research paper is little more than a fairly obvious statement, at best.