"People who buy ETFs won't ever own a single satoshi"

Eh, maybe that will be the case for some people, but I would say ETFs are giving people exposure by allowing them to "buy" bitcoin without having to learn a bunch of nerdy shit about it, BUT - those people are going to learn about what they're investing in, and a percentage of those people (some of which are whales) will become bitcoin owners.

"How can you be so sure about that?"

I mean, that's what bitcoinization over time is. There are still so many people who simply have no idea what self custody is, and once that changes, people will see how pointless ETFs are.

Also, fwiw, the government doesn't need ETFs to buy bitcoin, they could just print money to accomplish that at any moment... As to the government/corporations owning 50-60% of all bitcoin... Look at this: https://river.com/learn/who-owns-the-most-bitcoin/#:~:text=Not%20including%20Satoshi%2C%20three%20bitcoin,own%20more%20than%20564%2C902%20bitcoin.