I spend alot of time out of the USA in mostly 3rd world countries because I find I have more personal freedom in those countries than I have in the United States. But I am an American first, last and always will be.
If someone renounces their citizenship they are by definition no longer an American. They can be a free spirit or what ever but they are not Americans.
The next logical/historical step is to remove “renounces citizenship” from the restriction. ANY attempt to move non-trivial sums out of the country will be taxed at confiscatory rates.
You don’t think they expect to implement the full plan all at once, do you? They legislate what they can manage to enact, get that accepted as the norm, then take another step.
This is no longer the America we grew up with.