If bitcoin becomes a currency and not a commodity, it will matter to a lot of people. Wheat and molybdenum are not currencies or used as currencies (certainly not at any large scale) so speaking of their "economies" is a nonsensical statement.

> Aren't economies usually located in actual places?

We have a global economy, and bitcoin advocates seem (or used to) interested in establishing BTC as a global currency with its own markets for buying and selling a variety of goods.