This is something few have realized. Crypto guarantees can only ever extend to things that are wholly represented on-chain, and that's basically just cryptocurrencies. As soon as the chain reflects the real world it's at the mercy of the correct data being entered, or reality not changing around it.

And this means pure cryptocurrencies, backed stablecoins do not offer any of the crypto guarantees either since they are representations of assets held in trust that can be seized.

For a system to be trustless, decentralized and permissionless it must be entirely trustless, permissionless and decentralized. It's not a gradient, it's a step function. Once anything creeps in, all guarantees are void.