Vitamin K2 cannot substitute Coenzyme Q 10 as electron carrier in the mitochondrial respiratory chain of mammalian cells | Scientific ReportsI think Peat says that because Vitamin K2 has a similar chemical structure (quinone) as CoQ10, so it can substitute for CoQ10 as an electron carrier in the electron transport chain (passing electrons from complex I & II to III). So if CoQ10 is depleted, Vitamin K2 can step in and keep up the production of ATP in cellular energy metabolism.
View attachment 5584
As for pH balance, Haidut has said "There is nothing CoQ10 can do that vitamin K2 (MK-4) cannot do better." Energin - Custom, Liquid Dietary Supplement With B Vitamins