MrWonderland on Nostr: You are aware that if they manage to funnel most of the hash power into a few ...

You are aware that if they manage to funnel most of the hash power into a few regulated businesses, this businesses get regulated to censor all transactions are unwanted. And if at some point self-custody gets basically outlawed and those miners are only allowed to mine blocks with white-listed coins, then this 'Institutional crap' DOES affect the base layer.
Oh and if the miners only mine blocks onto a clean chain, then people with non-kyced coins are fucked.
For this to work they only need to regulate a bit over 50% of hashing power, which basically is already were we're at (we just not have those strict rules, yet).