Why are people panic selling right now? Scared of a little regulation? That is bull! G20? All they might do is AML prevention. If you are not laundering money, nothing will happen to you!! And we don't want money launders in our midst anyway! Chillax, it will be OK!
No. It is not like putting it back in the hands of the people....It is like putting it back in the hands of the cavemen/pirates. Look at what is happening at the exchanges. People trying to store value in crypto and losing/ forgetting their access information, not unlike burying it on a desert island and forgetting where out of fear of someone stealing it. Exchanges where deposits and withdrawals take ages to process or phishing schemes steal information from the careless or uneducated. If your dream comes true what will happen to the young or poor who don't possess the means to pay cash for cars or homes? Who will back credit cards and loans?
More importantly all these coins are are at best a go-fund-me round for development. Well Bitcoins' fund raising ended years ago...there is no new money flowing into the developer coffers and we know this particular version of block chain needs a lot of work to be functional.