I’d note that a lot of protection can be accomplished by getting no-action letters designating UNI as a non-economic token, but @Daimon-Law is correct, SEC establishes precedents (pushed back by courts as no statutory basis for their assertion of crypto asset security) with private class actions (as was case against UniLabs) being more common.
So plaints such as slander/libel, contributory negligence, breach of non-solicitation/endorsement laws, etc might be low-probability events but as one of the largest webb3 protocols, the size will inevitably surface delegate to delegate conflicts, especially once the treasury starts operating and people complain about capital allocations. Even hedge funds get director & officer indemnity insurance otherwise competent professionals will refuse to take on the roles.
On the other hand, just having a fund means moral risk increases, having a vaccine (guardrails) rather vivisection (ambulence at bottom of cliff) may be better allocation of scarce resources but planning for contingencies never hurts.