Bitcoin has existed for more than 11 years and has gone through 2 halvings already.

Is there risk that something that hasn't yet happened in past could happen in the future?  Sure.

However, I am left wondering why these things that you state could happen, haven't happened?  And if there hasn't yet been the proper incentives for these things to happen, then why do you feel that you can say with ANY confidence that the necessary incentives will ever exist in the future.

There are a million things that could happen in the future.  Many of them have nothing at all to do with Bitcoin.  The U.S. dollar could lose its dominance in the world.  Nuclear war could break out. Global climate change could wipe out humanity. A new Ice Age could wipe out humanity. We could colonize other planets. I could die an early death. We could run out of fossil fuels. A new source of cheap and clean energy could be discovered. Machines could become self-aware.

I'm not going to waste a lot of time thinking through all the repercussions and ramifications of all the "what ifs" of the world,

And I'm not going to waste a lot of time thinking through all the repercussions and ramifications of all the "what ifs" of Bitcoin.

Bitcoin has risks.  Bitcoin has potential.  From everything I've seen and heard over the past 8 years since I discovered Bitcoin, I beleive the potential VASTLY outweighs the risks.

If you have 0 bitcoin and it lives up to its potential, you've suffered a disaster (because you've missed out on an amazing opportunity).
If you have your entire life savings in bitcoin and it falls to its risks, then you've suffered a disaster (because you no longer have the resources to take advantage of other opportunities).

It seems obvious to me, that the right answer is to manage your risk based on your personal risk tolerance.  Own enough bitcoin that you'll reap worthwhile benefits if bitcoin lives up to its potential, but not so much that you'll suffer significantly if it falls to its risks.

As I said, if Bitcoin were to come completely crashing down, I wouldn't be devastated.  I have enough savings outside of bitcoin that I'll be okay and I'll buy up as much cheap bitcoin as I can afford.  However, if bitcoin lives up to its potential, I also have enough bitcoin that my life will be significantly better than it is today.