Until there is public, determined competition between nation states for domination of the mining space its a very real threat.

The US is *quite* adept at leveraging its position in even hostile jurisdictions. There is no place on earth that both 1,takes bitcoin seriously enough and 2,hates the US enough that miners can feel secure enough to bring large hash online there.

And of course, one jurisdiction isn't enough. We need many.

So tbh, it's stupid to dismiss that attack vector.

Sure you'll probably still be able to eventually get your tx mined.

But the network will NOT function as advertised.