privacy and security are two very different things. you may know those coins belong to me but you can't get it from me without my permission. bitcoin may be traceable but is also unconfiscateable.

and even if i happen to be a coldcard user, you might steal it from me but also know that i will be able to track where you are moving those coins and eventually i will find you.

so i can argue that traceability is actually a security feature.