Sure...It's a decision that fits a certain type of niche nation or objective.
As for the rest, a lot of unsupported nonsense.
No land-combat based NIs =/= sucks at warfare (swarming mercs is a different way of succeeding at warfare than discipline and combat ability bonuses. Its very effective).
A swap to MR might do a small amount for income in the short run, but hampers the ability to diplovassal/annex and thus gain BT that would otherwise be generating you lots of tax, production, and trade income. It also locks you into two idea groups that could otherwise be used to help a land power expand.
Economics won't really ever come even close to doubling your income. It gives a 10% boost to two types of income, which means at most a 10% boost to income (assuming no vassals, tariffs, or trade). Depending on how much of your income goes to your army upkeep and other land maintenance modifiers, it
could be maybe up to 15% cost savings (if you already had another 30% land maintenance reduction and land maintenance was 100% of your cost).
Even the additional buildings will often be marginally useful, as with -20% from economics and the reduction from having the appropriate faction, you're still using up a ton of ducats that could otherwise have been used to pay mercs/troops/ships and actually expand your territory.
You know nothing young Padawan.
Brandenburg, took economics 4th idea almost 300 ducats a month income. It would probably be around half of that without it. I expanded and got rich. You can live without economics though or just take trade and expand faster but it is not completely useless.
I know how to fight as a merchant republic via mercs but it is a lot easier to steam roll the AI as say Sweden or Brandenburg. You cannot always expand fast to get your income up either and there is a big difference between alright income and "ye ha I'm rich bitch". I think one could probably abuse economics+trade+military idea of your choice+admin/humanism/religious as your 4th idea. Turning a land based empire into a MR may not make you a good as trader as Venice or the Hansa but it will make you better than most of the AI nations and that is all you need. It takes a lot more effort to turn a MR into a good land based nation although you can do it.
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