One of the things that the whole community in the crypto world has been saying is that if you don't control your private keys, it is not your coins. Yet, the propaganda machine that Bitcoin runs is telling you that El Salvador has adopted Bitcoin, but yet that government has implemented a custodian created by itself.
The issues that custodians have been essentially transferred to the Bitcoin project because the supporter of that project celebrates the usage of custodians like if it was utilizing the actual real thing. Lightning Network has the issue of liquidity because of the way channels work; pretty much if your node is not well connected, your payments may not reach the intended party. The problem of liquidity runs on top of the issue of centralization and custody of funds. If your invoice doesn't go through like expected and you are using a custodian, you will have a hard time with customer service because you will have to contact support to fix your issues.
A government bank account that is a custodian of your Bitcoin is just a problem waiting to happen. Government employees in some countries are not motivated to work. Imagine if you have an issue with your money and your government employs people who don't care about customer issues but just about their time at work and the paycheck. Pretty soon, you will have inefficiencies. I wouldn't say I like the idea of government employees working as bankers because my experience at government places has been that government employees want to rack up hours and a paycheck.
Citizens of El Salvador, if they are going to use Chivo services, will have to deal with the idea that if problems with your transactions appear, you will have a hard time addressing those issues. I want to say that I think that the private sector is more efficient in banking services. I believe that a bank institution managed by the government will create issues in the future because government employees have no interest in fixing your problems in a timely matter but collect their checks.
I have seen the inefficiencies that government brings with government employees, and I don't think that will be a good thing for the financial sector in El Salvador. Hopefully, the government will fix this by quickly ensuring that employees address Chivo customers' issues.
In the case of Bitcoin, you don't need to rely on custodians, but if you want your $30 bonus from the government, you will have to jump the hoops that the government is putting you to redeem your own money. Please make no mistake, that $30 is not free money; it is money that citizens have paid, will pay, or that will pay in the future in the form of taxes.
Not to mention that to host your LN or Bitcoin keys, you need to afford the transaction fees, which can be very expensive at times with Bitcoin. Still, even with that fees, I will be more willing to get and pay that fee than to leave my funds with a custodian. That is why Bitcoin Cash is superior because you don't need any custodian to save and use your money. Fees on Bitcoin Cash won't force you in the future to use custodians either.
Conclusion.
I don't think it is a good idea to have the government manage your bank because of how the government works, and I think the private sector offers better custodians already for Bitcoin and related assets.
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