SPY is somewhat concentrated in mag7 (or the other 93 stocks in QQQ), but only a small percent of mag 7 are owned via QQQ, which has 400B aum. (Mag 7 is 19T.)

The bottom line is all this fuckery is a tiny blip for most investors. It's far more concerning to me the societal harm that will come from further enriching Elon.