I would worry more about miners are getting centralized because small miners no longer able to earn profit. Then the government bribe the miners not with an intention to ruin the whole market, but they do it with an intention to control Bitcoin by blocking specific transactions/addresses.
"There’s no security issue — the hashrate ⓘ is growing, that means everything is okay!"
The output of Proof-of-Work isn’t hashrate — it’s economic cost. What matters is not how many hashes are produced, but how expensive they are to produce. A growing hashrate means nothing if it's powered by cheaper hardware or cheaper electricity.
Isn't this mean 51% wouldn't happen? AFAIK the cost of hardware and electricity are always increase too.