Yea AnchorWatch went about it pretty intelligently for the most part I think, go where the money is, and I assume they make a vig on the insurance service. Taproot nerdsnipe shenanigans notwithstanding.

Even if there was a monetization model for normie self storage, how much could it be? Maybe a few hundred thousand people doing self-custody at an average of 10-100k in storage? What could they possibly pay? What percentage of them actually become customers?

One large custodian > thousands of Joe seed phrase.