The sidechain ledgers are merged into the bitcoin ledger through the 2-way pegging process, which creates a single merged ledger. Merged means one ledger
I think a lot of side chains will be seen as services beyond the main chain.
These are consistent statements. There is a single ledger of separate services.
Also, in your example, how does 1:1 convertibility between
sidethread 1.0 and 2.0 and the
main thread work, because without that they are
alt threads and are thus inflationary.