I read it but I feel like I'm missing something:
its a 2 way peg, so both BTC and scBTC can move freely back and forth.
Can you elaborate? How are the both to be pegged? How is the peg rate determined, and does it float?
Since you are free to move coins between BTC and scBTC, the price will be the same. You don't sell scBTC for a lower price when you can transfer it back to BTC and sell it for the full price.