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I have a conspiracy theory regarding diversification.

The government doesn't want people to get rich so they don't challenge their power.

If they tell people that the "safest" thing is to diversify, essentially everyone is getting a CAGR that is : monetary inflation + economic growth of the nation. So .... not much.

If people start making concentrated bets, most people lose, but a few rise to the top, and then gov needs to contend with an ever changing guard of powerful plebs. Which.is a nightmare for them because they can't establish relationships to get corruption going.

it's probably false, but I find it amusing.