Once it is sold, OG, the proceeds will go to the Exchequer and you will benefit from that in the same way you benefit (or not, as the case may be) from all the cash the government spends on your behalf.
Lloyds bank never did belong to the people. It was always in private hands. All that happened following the banking crisis was that the bank needed to raise funds to heal its balance sheet. The government was the only agency forthcoming with the funds needed and so it became a major shareholder in the bank in return for the funds it provided. What is happening now is that some more of those shares are being sold to reduce the government‘s holding.
You may recall (but perhaps do not agree) that much of Lloyds problems stemmed from their being forced almost over a weekend by the government and the FSA to take over the ailing Halifax Bank of Scotland in late 2008 at the height of the banking crisis. They also suffered as a result of this by having too many branches and this led to the fiasco - forced upon them by the EU - where they tried to dispose of around 600 TSB branches to the Co-Op, with disastrous results. Lloyds helped the government (who would have been forced to rescue HBOS otherwise) and the government helped Lloyds. Better, in my opinion, they use taxpayers’ cash to support UK institutions in trouble than to chuck it down the drain in the form of “Foreign Aid”.
A couple of years ago you could (as I did) have picked up a few Lloyds shares for around 30p. Today they are trading at around 80p. There is nothing to stop anybody buying and selling shares. Thanks to Mrs Thatcher’s “Big Bang” shareholding and trading was opened to all. It is not a closed shop; it is not the exclusive preserve of Old Etonians; you do not have to be one of "a few lucky individuals" to profit. Of course larger shareholders get preference at times when flotations or sell-offs occur. Such is life and in my view it is only fair - discount for bulk and all that. A few people make a good bit of cash from the stock market. Good luck to them, only wish I could do the same. But I don’t begrudge them their profits just because mine are not so great.