The crux of the problem is not Luna itself, but the Anchor Protocol (19.5% yield), which enticed users to burn Luna by investing in UST through a, for lack of a better phrase, Ponzi scheme. I get it - people like decentralization. But without some form of regulation, either by the broader crypto community itself or by governments around the world, situations like the LUNA/UST collapse will keep happening.
There are also rumors of a Terra fork: https://agora.terra.money/t/terra-ecosystem-revival-plan/870.... Thanks, but no thanks.