But survival chance is an important part of the asset. In the trading card / comic case, destruction of most of the asset is a major source of price appreciation. It may be true for Bitcoin/crypto too.

It's a concern for equities - the company might go bankrupt - so why not for bitcoin?

Can't buy what nobody owns, and bitcoin does have builtin caps for total amount with no way to recover coins sent to lost wallets. It's a nice clean proof that the price must trend to $0.