>Those oligarchs won't be able to print more bitcoin or exclude (sanctions) their political enemies from conducting trade. Seems fairer than the current system.

Sure they would. If bitcoin continues to exist much longer, you'll likely see the larger governments define a set of rules for domestic miners, perhaps including requirements to only process transactions from registered accounts or signed by specific keys, or otherwise authenticated. Any international agreement on such a system reaching significant hash power would fork the ledger into legitimate and illegitimate versions, and generate obvious consequences