I believe it’s actually both about control and money, but if Apple is going to lose control, then at least retain the billing portion.
And one more thing - you know what one of my local banks did in response to the rising rate of android scams? They changed their banking app to not work on android phones if it detected the presence of sideloaded apps.
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www.ocbc.com
I wonder if Apple might be able to get away with something similar. Say disable certain features like Apple Pay or iCloud if it detects the presence of sideloaded apps on an iOS device. All in the name of security.
So it may well be that while sideloading is technically possible, it becomes so onerous and inconvenient that nobody ends up using it?