The biggest drawbacks of the “most secure, decentralized network in the world” is that such a majority of its hashrate comes from a dystopian authoritarian country.
Yes the mempool would be unstable and flooded for a week or two, but then the difficulty will adjust and new smaller miners will have the opportunity to open up ANYWHERE else in the world making the network more decentralized then it has ever been before in the last 10 years.
It’s pretty dangerous to let China have this power currently. Remember this is a place where they “disappear” people just for their opinions, have millions of people in
”re-education” concentration camps. You think state actors can’t do some serious damage if they get the order to do it?