High time preference thinking.
First of all, is president really the only place he can continue to help the people?
Second of all. He is mortal. Any power centralized will one day pass to someone else. Do you really think it is wise to give that power to everyone in the future forever?
Also that is ignoring the human rights issues with how he has treated his own citizens so far.
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I have no rebuttals because i agree and believe ES is going to regret this long term. They found a way to rebrand dictator.