If you're extremely wealthy, earn a substantial income each year, and live abroad with a high-quality second passport (such as being a dual EU and US citizen), is maintaining US citizenship still beneficial given the citizenship-based taxation system? Would it make sense to renounce?

If we assume this person lives abroad, holds most of their assets in a Non-Grantor Trust (or other types of trusts) that might be exempt from the Exit Tax on those core trust assets (though not necessarily on their other personal assets), and has a second passport from the EU, would this be an ideal case for renouncing US citizenship? Given the circumstances, is there really any significant reason not to?