Yeah I have had that concern as well. I do believe that bitcoin will make a dramatic improvement over the previous system, but there will still be rug pulls and scams for a long time to come.

I don't know what the legal structure will look like under a bitcoin standard, but I imagine we will gradually build a structure which makes it prohibitively risky to rug pull people with financial services.

Most people focus on the means of exchange and store of value elemets of bitcoin, but I think the most transofmational factor is the third element, means of accounting.

In my opinion, if a large segment of society begins to think and measure their lives denominated in bitcoin it will bring about a renaissance whether the hold on chain custody or not.