Liquid is an alternative approach of publicly known federation members - as opposed random people that we need to spend significant effort in vetting.

The entire "push for fedimints" is interesting, but feels misguided. It seems that most proponents are thinking more than 1 step ahead....

At best, you're going to wind up recreating Liquid (ie. publicly known and trusted federation members, who by nature of their public stature can be coerced by state forces). I'm not saying recreating Liquid (or multiple competing Liquids) is a bad thing, its just from a practical perspective its a long way around the block to achieve what already exist.