Here's where I would draw the line between custody and a pegged token: if the pegged token is (or is supposed to be) backed up 1:1 by locking the underlying token, it's custody, otherwise just a peg. For example, USDT and USDC are custodial, but DAI and stablesats are just pegged.

So I would consider ecash and Liquid to be custodial.

If you want to sell pupusas for Bitcoin but you don't have any Bitcoin to begin with, you can't pay for a LN channel. So you either buy some L1 Bitcoin or sell pupusas for ecash until you can pay for a sovereign LN channel. It's not obvious that the former way is more censorship resistant than the latter. It depends on the availability of KYC-free exchange opportunities.