Simply proclaiming the stability of something doesn't guarantee it, or absolve one of tackling all the same problems of currencies in general. Else, a nation would simply call their own currencies "stable" and back them with $ reserves, which they already try to do.

Also, it is extremely stupid to say that a real-asset backed "crypto" somehow eliminates censorship. The "backing" is the only real item of value in this equation, and getting ones hands on that asset is of course vulnerable to censorship.

Not exactly. There are projects like Maker and sUSD which create synthetic dollar equivalents via collateralization with native crypto assets. (Caveat here, Maker did recently add USDC, an IOU backed stablecoin, as collateral as an emergency measure. Unclear if that change will be permanent or not).