However, the risk level for stablecoins is greatly influenced by its backing, so isn't that a "too much" claim?
Fun fact: Most people don't even know the risks of centralized stablecoins. Most think that it's a token hence it's somewhat trustless despite being centralized. They have no idea that the stablecoins can get frozen on their wallets.
As for a stablecoin overtaking bitcoin, yea I wouldn't be surprised to be honest. But bitcoin getting kicked out of the #1 spot doesn't make it less good. Doesn't change anything.