If bad, leveraged, investments in real-estate will not result in large losses, due to government intervention, then the real-estate market gets inflated, as when you have limited downside, your expected returns go up significantly. This also hurts less-leveraged investors (e.g. people who saved a large down-payment) as they get less house for their money, but don't gain any risk-reduction as their risk of negative-equity is much lower to begin with.
If malinvestments in ETH can be rolled-back, then any risks that are reduced by potential future roll-backs[1] will be discounted by investors, which means investors who carefully vet their investments for those risks no longer gain any benefit.
1: I'm not familiar with the fork, so don't know what the roll-back criteria are, but remember, to distort the market a roll-back need not actually happen in the future, just that a significant fraction of investors believe it is likely
Also, please don't create many obscure throwaway accounts on HN. This forum is a community. Anonymity is fine, but users should have some consistent identity that other users can relate to. Otherwise we may as well have no usernames and no community at all, and that would be an entirely different forum.