This is all true, but are they actually any worse than any other crypto exchange? I just take it as a given that a crypto exchange can lock me out and steal my money at any time with no legal consequence, and so I try to keep as little money in them as possible. And at least PayPal is older and likely to have more senior engineers and fewer vibe coders, and thus be less likely to lose everything because of an elementary security error.

No startup can compete with PayPal's decades long track record of suspending accounts and freezing funds.