Cash is liquidity. Companies borrow their way out of "cash crunches" every day. Illiquid equity is definitely not cash. In your IOU scenario, are you more or less able to buy things (up to $1000) after your transaction than before?
After my transaction, the person borrowing the money is less able to buy things, and the lender is more able to buy things, in the long run, because eventually reality catches up to us all and the more debt someone has, the less they have to spend.
I don't look at borrowing as limiting the question the way you phrased it does. Of course, if I borrow $1,000 I have it to spend, but in reality I have less to spend than going in, after accounting for interest, and perhaps far less after accounting for depreciation if I am using the money to buy a Tesla.
In my view, your argument is flawed in that borrowing money to rescue a company, or for capital expenses, investments, etc. is mixing apples and oranges. If someone was taking out a mortgage to buy a revenue property, for example, then I would agree with you, a bank loan is not only good, it's very wise. Taking out a loan to buy a Tesla, however, is flushing money down the toilet, if you ask me. Buying a Tesla is flushing money down the toilet even without a bank loan. There's nothing wrong with that. I did that - and happily flushed. I just made sure I had the investment property first and then paid cash for the Tesla.
But what does any of this have to do with AP2.0? It belongs more here:
https://teslamotorsclub.com/tmc/posts/1322605/