Only if you assume it's sustainable until you personally die. But that seems in constant question even now.
This is true, but .. for all retirement planning, you kind of have to assume no-collapse. It's also incoherent to say "the government pays too much attention to retirees" and "I expect to be defrauded by the government when I retire, along with my entire generation, and to be powerless to stop this" at the same time.
Your paradox is easily resolved thus: the government pays too much attention to _current_ retirees