Doesn't that mean it's trivial to rewrite the blockchain and double-spend successfully?
You can fork all you want, but the clients will use their hard coded public keys to check the blocks
Paycorn did it with their prime node bs
See https://github.com/PaycoinFoundation/paycoin/blob/master/src/mpkeys.cpp
Now if the idiots lose their private keys, they'll have to force their own fork to roll them