This threat seems very, very likely at some point. The cost of an attack wouldn't actually be that much to pull off. Even a short term (i.e. much cheaper) attack could completely destabilize the faith people have in Bitcoin.

Are we just waiting for an attack to occur before actually doing anything?

An attacker that isn't motivated by money will eventually attempt an attack. This isn't an "if", it's a "when".

Some billionaire, inherited wealth rich kid could completely devastate Bitcoin for under $50 Million.

Some people love to wreck shit. Rich guys that love to wreck shit? It could get ugly.

Somebody console me. I want to be wrong. What am I overlooking?