I don’t normally post on HN but this seems grossly unfair. You can only be in the club if you are rich.

It’s a consumer protection measure to shield lower incomes/wealth from less regulated products that are riskier.

And most of those products require minimal investments that are quite high anyway.

1M is not rich it's just good amount. Even it was lowered you would still have limited access. It's mostly about who you know and your personal brand.