Cypherpunks are an online movement that regard privacy as the most important aspect of the transition to an online world, however we now live in an era of booming inequality due to tax avoidance and people hiding money and this is due to an already highly-secretive financial industry. Privacy in money is the worst idea, and bitcoin is already private enough but also somewhat transparent, we have to be able to deal with issues such as the illicit use of money and privacy cryptocurrencies like Monero are a step in the wrong direction. Monero has had a bad year, tumbling in value in 2021, this will make it seem more risky to investors, it is also difficult to use and most exchange's have KYC, or Know Your Client, requirements that make Monero's privacy attributes useless. Ultimately societies need more transparency, more people paying taxes, and less funding of crime, why would a secretive cryptocurrency that would just enable people to hide money more easily be a good thing?
Indeed if everyone can hide money why would anyone want to pay taxes anymore, would taxes work as a voluntary system? Probably not, and its commonly held that the only utility of privacy is to mask illegal actions. Monero and other privacy focussed cryptocurrencies represent too much risk to governments and will probably ultimately just be restricted to the point uselessness, so why invest? Monero may be too much of a risk to governments and institutional investors to ever take off, anyone opposing a state could get around restrictions and sanctions with such a secretive currency, so it represents an actual threat to governments and is more likely to be cracked down on the more popular is gets. Again this represents too much of a risk to the majority of investors and will put people off more than the well known cryptocurrencies, making Monero a currency limited to cranks, criminals and cypherpunks.