Ok, but proof of stake is a security model. So what you're claiming is not just that markets are irrational, but that thieves can steal all this money, and are just choosing not to. Since people are constantly stealing money in the crypto world, I find that pretty hard to believe.

in proof of work security is paid for in energy. in proof of stake security is paid for in currency of the system. if this circular property doesn't bother you - fine, but it bothers me.