There’s no downside if you can do it and extreme wealth is only a requirement if some of the many offers don’t apply to you. Spain was basically giving away citizenship a few years back. Bulgaria is pretty open.

I’ve lived in the US for quite a few decades, but I’m still a German citizen. When asked why I don’t take US citizenship, I give a three-part answer:

I don’t believe you can owe allegiance to two different entities at the same time.

Between a German EU passport and a US Green Card, I can travel almost anywhere in the world.

I f I ever run into legal troubles, first call is to the wife, second goes to the embassy.