That only works if you can convince those in the government that it is "too big to fail". This is why there has been a push to get politicians involved.

When bitcoin fails (and it will), those who mine will be the first to move their value out to whatever BitCoin2.0 is. Then they will be able to charge whatever they want to the suckers left who want to exit, because you literally will have to pay the miners transaction fees to let you do this, and there will be no cap on what they can charge.

The final appeal will be to the government, saying "you bailed out the banks, homeowners, students, the auto industry, the airline industry, why not those who lost money in bitcoin?"