1) The native token of any blockchain of private origin is nothing more than a sample unit to show the usability of the ledger. All it's features are actually attributed to it by the ledger. It's price is speculative and does not represent the value of the ledger.

Exception - Token backed by gold or fiat or stake.

2) A State is better off having its own chain with its currency as native token, than tokenizing it on top of a token/chain of private issuance. That way there's no loss of control and as such, no need for mediation for policy formulation.

3) A state owned chain is by definition "public." And the state is prevented from becoming dictatorial by reason of the Blockchain being an economic framework that fails in the absence of market play (irrespective of market type).

4) Global domination of one chain or token is unnecessary. Blockchain ensures/provides for accountability and it's not lost with the co-existence of multiple chains (with or without swap feature). Accountability also doesn't depend on token being mineable.

5) Mining & Reward is nothing more than a scheme to get people involved. Scalability is a feature of the ledger and does not depend on the token being mineable.