David,
Am not sure you enhance your credibility by using Venezuela as a comparative model country, and then by implication as a reason to stay on our current blinkered course. They have had a fixed exchange rate with capital controls, of 4.3 bolivars to the USD for some 9 years; and have just announced a devaluation to 6.3, or a near 50% devaluation. They export oil, and really only oil; their devaluation is caused by overwhelming government control and incompetence. A comparison with our Muldoon years may be relevant, but not now. With a half decent economy, any manufacturer would be happy with a long term stable currency.
From the article you link to, the Japanese second thoughts seem to be only that the yen has devalued so fast since November that it will almost certainly cause retaliation; not that it doesn't work in boosting manufacturing. I note that the Japanese currency is still about 33% above its long term average against the USD leading up to the GFC. 
The NZD is 50%  above its 2008/9 level; noting that Japan has had one of the world's largest current account surpluses in that time. We of course are heading to one of the largest deficits.
To deny the effects on the competitiveness of manufacturers and other trading companies, of a 50% lift in their costs; especially of costs out of their control, like all government and quasi government costs, including power, gas etc, is head in the sand denial. For the government to appear to be impotent in a perpetual ongoing appreciation also gives a strong message to manufacturers to base anywhere but here. 
If the government and RB really want to defend their position, they really need to do better than tired comparisons with Zimbabwe, Venezuela etc. If you wish to be their cheerleader, you need some better evidence.