But if the participating miners simply rewrites the blockchain ledger and steal a lot of bitcoin
What do you mean "steal a lot of bitcoin"? Do you know how the blockchain works?
No amount of mining allows someone to steal bitcoin from other wallets. In a 51% attack the attackers can choose which txs to mine and which not to mine so they would be able to censor the transactions, and they can double spend their own bitcoin, but they can't steal any bitcoin. The only way to steal would be from the double spending, stealing from the merchants they were supposed to be paying. And if a 51% attack is happening, pretty quickly everyone is going to know about it, and it'd be easy enough for bitcoin participants to stop taking payments from known attackers addresses until the attack ends. This is where the transparency of the Bitcoin network comes in handy.
Besides, the entire idea is preposterous for the reasons outlined in my previous comment.