It is a concern because it allows that one pool to alter transactions in the blockchain, while nodes create the rules avoiding a 51% attacks also helps keeps bitcoin decentralized.
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A 51% attack is financially unfeasible, and the only country that could have done it was China (I think they had around 65% of the hash rate). Instead of seizing the machines, they just kicked out the miners. Kkkkk, they are idiots. They'll regret it bitterly; they probably lost the chance to become the most powerful country in the world! Thank God they lost that opportunity, right?
China will absolutely use any opportunity they can to seize more power, and control.
And if they used that power to cheat, it would have resulted in a fork that no one else used.
All these problems ultimately lead to potential short-term dips and reorgs, while the nodes will always pick the most decentralised original chain by default.
Storm in a teacup.