If it's looking to history, it's either a slow reverse of trying to back a failing paper currency in something hard and scarce, and potentially returning sovereignty to some, but also leaving many behind with a failing fiat currency or a claim to an underlying 'asset' until redempion,

But again looking to history this also plays out as an attempt at co-option of the network by current power structures, nation states and the like, which I think at its core is robust enough to not be fully captured protocol level, but between pool centralizations, all these paper ETFs issues on top not trading 24/7. There's likely a real risk of attempting to cut off the ramps without going through some sort of KYC. Plus risk of transaction censorship by large regulated miners or pools.

If things get bad enough I could see a 6102 type legislation being attempted.

Privacy is still an issue unless your willing to learn how to protect yourself. Hopefully peer to peer payments and self custody remain strong versus all this investment strategy trusted third party bullshit. Corralling people into honey pots.

But really it's anyone's guess. I've already rambled too much just to confuse myself. 🤷