So the irony of that quote is that most people use it as caution against government overreach.

In context, Franklin was talking about a plan by the Penn family to buy the right to never pay taxes in exchange for providing private mercenaries to bolster the western Pennsylvania front against native attacks. The "those" he was referring to was government... The government of the PA colony. The "liberty" in question was the legislature's authority to determine how taxes should be levied. Hence the "deserve neither" part... "Make a short-sighted decision like that, as the leaders of this government, and you don't deserve the power vested in you."

This is true, but I think the original intent of quotes (for long dead figures whose lives have been mythologized anyway) is not very important. It isn’t like we’re trying to figure out the original intent of some law or something.

The quote as misinterpreted is what has entered the cultural consciousness. One guy meant to say one thing, but millions gave it a timeless meaning.

So it would be extremely relevant as the US government gives overt and tacit concessions to China as they are reliant on their manufacturing base for US security / arms