"is strictly a monetary event. A crisis of confidence event"

Maybe I am taking this to literally, but it's not just a monetary event, because it affects the real economy. It makes production stagnate, i.e. it stops the creation of wealth in the entire country. If money is the grease to make the economy working, hyperinflated money is like sand that blocks the machinery.

Only if you would go back to barter, it wouldn't matter.