I think you're strawmanning here. I'm not against deposit insurance. I merely suggested it should actually be part of the banking regulation.
Like maybe it's a default line item monthly fee to insure your deposits and you can choose to opt out of it. The default is to protect your funds. My guess is very few people will opt out, including me.
It is a part of the regulation, up to USD 250k, which appears to be a good limit for people who should be aware of doing stuff like this themselves (in EU it is EUR 100k, so the US more than doubles that amount).
I think this just shows the irresponsibleness of people with large deposits.
You could go down and withdraw your 20mil dollars and put them in your couch. But you kind of like that the bank takes care of security for you.
But you don't want to pay for that insurance?
When you start a company, you already insure tonnes of things. You employees, etc. Why not your financial position.
Do you also expect the society to take care of your liability insurance? or health insurance?
(It is actually laughable, that Americans think that the government should insure their deposits but not their health)