The current ruling class consists of people who did well in (somewhat, at least) transparent rule-of-law conditions. They can discard the laws if they want I guess, but they should take a lesson from Putin’s Russia—they are rich now, but without laws some intelligence officer can chuck them out of windows until someone in their family tree is willing to pay up. (Not that they need to look to Russia for an example, it is just a recent one, their own history books are full of these guys).

Actually, I think they are aware of that, which is why they keep trying to do the paperwork properly.