1 USD != 1 BitUSD.
That is a fact and has been for months worth of data.
Your turn.
It is impossible to directly peg a token exactly to the value of any asset while still remaining decentralized. However, Nushares/Nubits and Bitshares' Smartcoins have closely held their peg for years now. They are not exact pegs, but they are close enough for the value to remain stable. Bitshares has been in a bear market for over a year now, however 1 bitUSD is still within approximately 5% value of a US dollar with an approximately 3% spread on the bid/ask sides. bitUSD is designed to closely resemble the value of a dollar, while at the same time being worth at least one US dollar. In a bear market, people can expect to pay a small premium by design.
https://bitshares.org/technology/price-stable-cryptocurrencies/The very first buyer of BitUSD will have to pay the lowest premium set by the shorters. For the sake of discussion, lets assume the first BitUSD was created in a bear market and cost $1.05 to create. The holder of that BitUSD has two options: sell it on the market for $1.04, or request forced settlement for $1.00. Clearly, the forced settlement option would only be used in situations where there was a decrease in total demand for BitUSD and there were no offers to buy it above $1.00.
As a trader only looking to trade back and forth between BitUSD and BTS, this premium doesnt matter. Such as trader is exposed to volatility in the premium, but that risk is limited to $0.05 in this example. In practice, the premium is expected to be relatively stable and predictable.
I do not understand how you can call Smartcoins a failure unless you too are simply FUDing or trolling here.