selling a SaaS (presumably with support) to enterprises is a bad thing now?

>Good reason to believe the entire thing was simply the old system attempting to hijack bitcoin.

>https://www.reddit.com/r/btc/comments/7fsbw5/divorcing_the_s....

most of the post wasn't really relevant to the on-chain vs off-chain discussion, so i'm going to quote (what i think is) the relevant bits

>The divorce of the transaction layer from the settlement layer enables corrupt influence and tampering within the system in much the exact same way as the fiat system. [...] The core treachery that has been inflicted upon the project is what? You guessed it; to divorce the settlement and transaction layers from one another, which makes it once again subject to the exact same weaknesses as gold in the modern world with its laughable 542 to 1 paper to physical transaction to settlement layer.

how i'm understanding the argument it is that by separating the transaction/settlement layer, it would lead to fractional reserve banking, as seen in fiat currencies. how does lighting network achieve that? to start a payment channel that can handle x BTC in net transactions, you have to lock x BTC beforehand, so it's not like using lighting network is equivalent to issuing IOUs for bitcoin. am i missing something?