> I'm not sure how anyone could have any confidence in this system after that.
I think the situation is the opposite. After the DAO there were broad calls criticising the lack of leadership, criticism about decentralized/consensus decisionmaking, and comparisons with the broader economy and how the Fed can orchestrate a bailout (and why that's better - in the eyes of the critics). In a way, through consensus with this hard fork the Ethereum stakeholders squared the circle - orchestrating a bailout with majority assent (and if anyone didn't like it they were free to leave). I'm not going to pass judgement on whether or not that is a good precedent to set (or whether a turing complete blockchain - or the EVM implementation in particular - is a good idea in the long-term), but if anything the decisiveness of action should give more confidence in the short-term.