If that "elthree" is centralized, then yes, sure. But if you want to use your "elthree" across many exchanges or across any parties, then that thing should be somehow standardized and it should have an option where you control your funds all the time. For example: you can do "eltwo" by depositing funds to exchange (instead of channel opening), trading (instead of "eltwo" transactions) and withdrawing them (instead of channel closing). Is it "eltwo"? Yes, it is on the same level as LN. Is it centralized? Yes. You cannot control your coins directly and that's the difference between "globally recognized and standardized elthree" and "exchange/wallet centralized elthree". The former will be created, the latter exist today in custodial LN wallets.