Nah it's not defeating the purpose with it and if I said that then I was wrong.. COCO is a perfect replacement for peat and is a better one at that. My plants are growing at a ridiculous rate in the mix I made.. As far as the Humic Acid.. the LK should take over for that.. PB is one of the best ferts out there for coco. You shouldn't have any problems man, but remember coco is tricky if used straight.. I would amend it with some dolomite lime as you would with soil. And water it every other day... Just remember though if you use straigh coco you MUST feed/water from early on in life, and it must be done at every watering as there is nothing in the coco for your plants. cept (K) as the stuff breaks down.