(^
...
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Twisting aside -- that some share of the crypto cake capitalization will go to chains with varying degrees of trust reliance is unavoidable, imo. Said as much before and still think it'll be the case, long term. Only, that doesn't change the simple economic insight that, once you're planning to clear / register / etc. among a broader group where your lack of trust in them times the capital on the line is greater than the cost of complying with creaky old BTC (fees and delays, warts and all), you have no good localized economic reason not to use the latter... So what's the big deal, exactly?*
* And that's not even accounting for the (orthogonal) incentive to be on a permissionless network.