It's not, but this provides a hybrid approach which blends the best of both worlds. It allows companies to raise capital globally without being fully subject to

It's not, but this provides a hybrid approach which blends the best of both worlds. It allows companies to raise capital globally without being fully subject to SEC laws (depending on implementation and the SEC's willingness to play ball) while also eliminating much of the fraud and bullshit inherently baked into a trustless system by leveraging existing legal structures. At the end of the day it depends on what the goal is. Is the goal to lower the barrier to entry for new companies to raise money, or is it to create some idealistic free market? The former is possible and useful, the latter is not.