You continue to make the same mistake over and over. Predicting something and advocating for it are different things. Stop conflating them.
What any of us thinks should happen means nothing.
How would a senior-to-common cramdown be a violation of property rights? Right now the common shareholders don't own anything at all: they have no voting rights and all of their economic value is worthless due to the massive liquidation preference of the seniors.
If Treasury were to write off the seniors completely, someone who bought common shares today would see a huge windfall, whereas someone who held shares for years and years but sold recently would get nothing at all. In what world is that fair? Fairness went out the window a long time ago and it ain't coming back.