It's definitely better than using Bitcoin by default but you're overstating it's untraceablility

-Largest inputs in a round have less privacy
-It doesn't hide amounts or doesn't even have uniform amounts (users potentially vulnerable to amount analysis)
-Much smaller anonymity set especially for recievers
-Liquidity isn't shared between different coordinators afaik so it fractures anonymity set instead of having one global pool like Monero