as if a hostile actor with enough resources couldn’t just take control.
Nobody said that couldn't happen. It has happened in fact, to a fork shitcoin. Everyone knew immediately and it lost trust, it's relatively worthless now. Blackrock won't undercut themselves that way. They're psychotic narcissistic parasites but they're not stupid.
Even if they do have 90% that's not what centralization means. It doesn't work like dollars.
Also at least 10%, maybe even 20% or somewhere between the two, is burnt. Inaccessible.
Blackrock and others are absolutely fucking around criminally, but if you're going to try to report about it you should at least bother to get the basics right. Ignorance is one of the reasons they're able to get away with this crap.
I didn't even read that part before, edited to reflect it.