The whole idea of a Bitcoin Standard is wrong: with the gold standard, a dollar was worth a certain amount of gold. With a Bitcoin Standard, a TerraShitcoin should have been worth a certain amount of Bitcoin. That would make it just another fake wrapped Bitcoin, so there's no point other than earning money for the creator.
You can't use one thing to peg something to something else.
That means the "Bitcoin Standard" is just as buzz word, typical for money grabbing schemes.
Well, I won't be so sure about this.
What is a BTC on the lightning network? Those are satoshi outside the blockchain pegged to Satoshis on the blockchain. Is a bitcoin on the Lightning Network less a bitcoin than the ones on the blockchain? I doubt so.
Taro, for example, will open a lot of possibilities to enable tokens on the BTC technology. How will be this different from a Bitcoin Standard?
This was the main purpose of this thread, without getting too interest in LUNA's fate. But of course, things in this universe happen often faster than thought.