That’s a fair point.

I guess for me it’s extremely rare for me to need (large amounts of) money “now” apart from daily needs but that’s usually charged to my credit card and paid off from my Fidelity cash management account on an interval.

I can see in emergency situations where that is true. But the currently level of liquidity that I get with brokerage accounts + cash management account works for 99.99% of my use cases.

I’m willing to take the higher interest in MMF for what is a negligible impact to liquidity for my use cases.