an entry point for retail that buy stocks and the whole buying Bitcoin itself seems scary, also removes some unit bias. I do agree with you but I also see a use for this

Self custody Bitcoin is by far better. However for me I could buy this stock in a UK tax free ISA, might be similar for USA.

There's a potential upside in Bitcoin yield which from what I can tell only works because there's a premium on the stock. That premium needs to remain or you'll end up with less Bitcoin when you sell and buy Bitcoin. It's not without risk.