This isn't a particularly clever argument. It is trivially easy to maintain a currency peg. I could issue one hncoin tomorrow, peg it at a dollar, and hold a d

This isn't a particularly clever argument. It is trivially easy to maintain a currency peg. I could issue one hncoin tomorrow, peg it at a dollar, and hold a dollar in escrow and my coin is pegged. It'd hard for governments because they have to manage an economy and politics either their currency. Stable coins could end up fitting the same description but not a of them do. If they choose to just peg peg coin with reserves of the underlying and make exchange easy the peg will stick. The comparison to a government is irrelevant though.