The inability to keep assets hidden ("safe") means an LLC would be more valuable for a non-wealthy person. While a wealthy person squirrels away their assets so

The inability to keep assets hidden ("safe") means an LLC would be more valuable for a non-wealthy person. While a wealthy person squirrels away their assets somewhere, a poorer person needs LLC protection exactly so their personal assets don't get taken away. To the last point, losing everything, even if it's less, would be more devastating than a richer person losing half of what they have in a judgement. So a poor person needs a LLC to avoid the calamity of everything being taken. Before LLCs it was only established families or folks with very wealthy patrons/backers who started companies. Now millions of people from every financial status do so. The proof of the pudding is in the eating.