The future of Bitcoin looks terrifying to some people right now because those in power are now into Bitcoin, taking every bit of those Satoshi like their lives depend on it.
Yes, it looks terrifying because institutional adoption now exceeds investor adoption and not to mention that government can influence institutions decision and control them to a large extent, so if they have most bitcoins than actual investors, then centralization is winning against decentralization and this is not a good thing for bitcoin.
I get you, I feel the same way too but the part that's missing is the control part.
Even if these centralised freaks of nature takes all BTC available to themselves they can't control yours still, your Bitcoin wallet remain your Bitcoin wallet, the Key remain yours forever meaning only you have access to your fund, which is why I hated banks so much.
If they take all, how do you get more? You would be forced to do KYC in order to get more bitcoin therefore giving centralization the upper hand. DEX Protocols would be weakened with few BTC in their treasury if the government and institutions gets all BTC in circulation and you must do KYC to get more.
With Bitcoin, the power of centralization control is far lesser than most thinks.
That was the design, now centralized bodies are accumulating the lion share of the cake. If it continues this way, then their centralization control is getting higher every passing minute.