Self-custody will be propagandised as a 'danger to democracy'. They will use every trick in the book to convince people their money is safer with them, just like they did with the banks.

I do agree with your point though, it's sort of a double-edge sword. The incentive has to be there, and that will help drive adoption as long as the people working on the technology remain honest. I don't want to pretend like I understand every aspect of the situation.