Just to make it clear, governments are not interested in shutting down the p2p platforms and exchanges but what they really want is access to every transaction about the users who registered their and all their KYC, and any other possible details just to track them better this force the p2p to go out of business.
Since exchanges already got their own p2p sections, so why go through all this on multiple platforms?
But bitcoin is bitcoin, anyone who wants to accept bitcoin can do it and they don't need permission for anyone to do it and they will have issues only when they need to convert into fiat.
You've got a good point there. Governments are not really trying to stop bitcoin itself, but they do want visibility and control, especially when it comes to KYC and tracking transactions. That's why pressure usually falls on exchanges and platforms, not the network.
If p2p gets restricted, it doesn't stop bitcoin, people can still send directly wallet to wallet and no permission is needed to receive or send.
The main challenge shows up when converting to fiat, since that's where regulation is strongest. So even if platforms get limited, bitcoin itself still works. It just pushes people to use it more directly instead of relying on services.