Censorship FUD or real problem?

Realizing there's a bias to LOVE Eth here, I'd like feedback from both sides of the spectrum. Half my crypto portfolio is ETH and part of me wants to sell A LOT when it climbs back up mainly b/c I'm pissed that POW now makes Eth more controllable and centralized. The other part of me wants to hold b/c POW will level out the supply, and to me, a fixed supply is what appeals so much w/ Btc (the other half of my portfolio essentially). Is the current censorship narrative designed to shake out libertarians like me or is there merit in Eth being controlled and dominated by regulation? Even if ETH doesn't pass the Howey test, what's to stop the SEC from regulating it anyway?