firstly many people keep playing the fungible card. waving it around

fungibility is not a 2 option yes or no
its a scale
    a scale of suspicion/uniqueness

nothing is 100% fungible or "fungible: yes"
everything is a scale. even paper cash

secondly bitcoin doesnt need to be an 'all-in' thing offering every utility under the sun with hundreds of bloaty options to hold weird funky metadata thats got nothing to do with moving simple satoshi units from one address to another

however trying to remove normal peoples transaction utility off bitcoin main net and then bloat bitcoin blocks up with just elitist batch reserve swaps in bloaty scripts and output listings is not the purpose of bitcoin either. nor is delaying onchain scaling by years to instead over promise some other subnetwork phished as bitcoin2.0 will do the job that then doesnt require bitcoin to scale

bitcoin should allow people to move bitcoin easily and cheaply on the mainnet and then have secure functional and non-flawed/non buggy subnetworks that actually do provide real utility for niche purposes.. and not some fluffy snake oil promises

bitcoin can lock value easily without code modification.. it should then be upto a sub network to then do the dynamic stuff it wants to add extra functionality of some weird service option not native to bitcoin
but where the pegging is actually strong,secure and non buggy on the subnetwork side