Your point is perfectly valid. There is no single right answer. It just depends on what risk level one is comfortable with and that varies from person to person.

I’d agree there’s no single right answer, but I think generally a risk profile for an insurance product that is so outsized against you seems like a poor decision.

This isn’t like putting all your money in meme stocks or something, this is more akin to selling risky stock options. The downside potential is massive and essentially uncapped, whereas the upside potential is meager.