> The state is anti-innovation (think about how slowly government infrastructure has developed) and anti-consumer (imagine the DMV in charge of your money).

That some states are anti-innovation does not entail that all states, or even most states, are anti-innovation. Government dysfunction is a self-fulfilling prophecy, in that, a pervasive cultural belief that government is dysfunctional leads to a dysfunctional government, and the converse is also true.

Which isn't to say this is a good idea anyway, but your counterpoint isn't all that strong.