Can you imagine what will happen if they will take one and make an example out of it ? People will react to it, and for gov it will make more harm than good, regulations will come first from china probably and other world will implement those for all crypto. That's just my opinion :)
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The people involved will react badly, but everyone else will forget about it days after getting mad. Just look at Bernie Madoff. That was huge! Much bigger than Bitconnect. But everyone not involved just forgot about it after being mad as hell only days before. Peoples' attention span is rarely longer than a few days. So, I think the gov could get away with it easily, and they think so too and will try. I mean, I hope you're right, but I also think we should be cautious.