DAI track record for the last 4.5 years had proven you wrong. It’s either

1)centralized and has all these centralization risks (USDT had frozen 360M on ether alone),

2) crypto-overcallaterized that has less centralization risks but limits in stability.

3) or something else, that usually doesn’t work (terraUSD)

I keep 99% on my money in crypto (plus I recently got pretty much excluded from banking system) so i have my money where my mouth is: DAI. I don’t like everything about it, like lots of USDC is collateral, or ineffective liquidation system, and for that reason I’m participating in StableUnitDAO to build far-better alternative (feel free to join us, i bet all my lifesavings on this project) but for sake of this argument it’s not good fiat vs bad crypto stablecoins. For lots of people it’s strictly opposite.