Very good points. People often go a long way to argue against the Howey test. The best example is Howey Co case.
If someone is a lawyer dealing in securities and acting as an advisor I would have expected them to be familiar with the law. Coinbase issuing public statements to SEC “tell us what is a security” were basically a ploy or the lawyers involved were extremely inexperienced.
https://en.m.wikipedia.org/wiki/SEC_v._W._J._Howey_Co.