A “hostile takeover” scenario using liquid staked tokens is highly unlikely, because many people are knowledgeable about this risk and are taking steps to remove it.
Currently, the Stride blockchain controls just 0.68% of staked ATOM. While this is a far cry from the 1/3 threshold, Cosmos Hub governance is already considering security precautions to prevent that threshold from being crossed. Zaki’s LSM proposal would limit the amount of liquid staked ATOM at 25% of total staked ATOM.
And even putting the liquid staking cap aside, the Stride blockchain is governed by STRD stakers, and, for such a young blockchain, the STRD supply is already well distributed, and is getting better distributed all the time. One of the main goals of the STRD tokenomics is to effectively distribute the STRD supply, which contributes to the decentralization of the Stride blockchain. For example, the vast majority of the STRD currently in circulation has been airdropped to ATOM stakers and given to ATOM liquid providers.
With the Cosmos Hub working to safely regulate liquid staking and the STRD token supply already fairly well distributed, a hostile takeover scenario is highly unlikely.