Yes, it does make it less like coins, because lying about the assets backing a share's value is a quick way to end up in low sec Federal prison for 5 to 20 years.

I completely agree that there are regulations that enforce a somewhat honest economy. But look at 2008. A bunch of cheaters and the only people penalized were the ones who believed in it the most, such as homebuyers at the time. Bitcoin is much more chaotic, but that has its advantages too. For example, it is not tied to a single country's government.