Correct observation.

BitUSD is quite a joke. Its 'value' is backed by BitShares tokens, which means that if the price of BitShares tokens tanks or pumps, the value of the "stablecoin" adjusts to that. It's more like a trashy pump and dump coin rather than an actual stablecoin. Can't back a stablecoin by trashy coins or tokens that inherently are super volatile and have no fundamental value. You're asking for problems that way.

DAI does a better job in being a decentralized stablecoin. Not perfect, but good enough; https://coinmarketcap.com/currencies/single-collateral-dai/