"note to non-business-savvy readers: this is not even remotely the same kind of thing as personal credit card debt or whatever other completely unrelated thing is making you sanctimoniously kneejerk that "debt is bad". Can we please have an informed discussion of debt as a part of a business capital structure?"
I understand your frustration and, largely, agree with it. You are correct that these are two different things and shouldn't be conflated.
Until they should be.
The two "types" of debt you are drawing a distinction between (or the familiar discussion of national debts vs. household debts, usually in the context of federal spending vs. austerity, etc.) do indeed behave differently under normal circumstances.
In extreme cases, however, these heuristics that you find so primitive and annoying are relevant and actionable. Ignore them at your peril.
I understand your frustration and, largely, agree with it. You are correct that these are two different things and shouldn't be conflated.
Until they should be.
The two "types" of debt you are drawing a distinction between (or the familiar discussion of national debts vs. household debts, usually in the context of federal spending vs. austerity, etc.) do indeed behave differently under normal circumstances.
In extreme cases, however, these heuristics that you find so primitive and annoying are relevant and actionable. Ignore them at your peril.