Why is this topic of the big pink elephant in the corner of the room never talked about? Coinbase custodianship.

I’ve always said to some of my bitcoin friends that I think the largest pink elephant in the corner of the room is the fact that Coinbase is the custodian for 90% of all bitcoin ETFs, and for major corporations, the elephant is (if you haven’t thought about it already), the largest single point of failure in the bitcoin ecosystem, which is Coinbase, if the government wanted to collect as much bitcoin as they wanted, then Coinbase continuing business as usual is the way to achieve it, then just to have the government issue an executive order and seize the Coinbase corporation and all it’s bitcoin as “a threat to national security.” I would like to know the thoughts of some people in this ecosystem who might be more highly educated than me on the topic. Thank you.