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It does limit choice, but so long as you aren’t retaining the generation list somewhere an attacker can find it, how are they to know your list? As long as your list is incorporating less common words, your attacker can’t even simplify the problem by focusing on the most common words. Just one rare word can expand the list they need to use by tens of thousands of words.
That’s not true, they successfully did their job of protecting capital and the owner class. Same reason they don’t go after Trump. He’s in the owner class, so their job is to serve and protect him.