Agreed with most of these critics, but no body is claiming Ecash isn't all these things. The only diference here is that there is no bailouts in the event of a bank-run on the mint. Just like Tether-usd is an other fiat currency on a blockchain but there is an important demand for it so be it. Let the free market find it's own way. Again there is no bailouts coming from the Bitcoin base chain, so all the actors on the top layers must be honest or else fail. You don't have to use it if you don't like it, but maybe some less fortunates people in africa or latin america desprately need it to survive the day to day life.