If it is just a layer that chain or send hashed data to the Bitcoin blockchain, I don't think it is a progressive thing. Not to mention there are tons of alternatives for people who are looking for decentralized exchange, financing, and so on. If I'm not wrong, projects that focus on lending with BTC also exist without touching BTC at all.

Maybe this is too early to judge, but I feel like this will just end up as one of those things that gets forgotten with time.