Did Coinbase fail to argue the difference between Beanie Babies and securities?

Could you elaborate on why you believe Coinbase may have fallen short in distinguishing the distinction between Beanie Babies and securities? It seems like a crucial aspect of their case, as the distinction could significantly impact the classification of certain digital assets. Are there specific points or arguments made by Coinbase that you believe were insufficient or misguided in this regard? Understanding the nuances of this comparison would be invaluable in assessing the overall merits of their position.