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And more importantly, will ordinary people still benefit from it?
Good question.
Probably, no coiners will not have any benefit from this. Big expenses made by governments doesnt mean big advantage for people.
Unless they are part of some entity that in some way is actually buying bitcoin for the "public wealth" (likewise state pension funds).
Otherwise it will be just a wast of public resources since the benefit is not for "the people" but maybe for the magic people that stay on the top of the pyramid.
People that have already bitcoin they have immediately an advantage, but bitcoin could follow his path even without this "nation race" for adoption.
Ordinary people should buy in any case, because, governments won't look at what people think - they are going to do it if they see potential in it, and we should act the same too.