He’s an easy target for regulatory attack, 6102, etc so I think he knows he’s underselling MoE out of fear of government attacks. He’s been saying this about “currency”for a while now. Doesn’t want to be adversarial. He knows SoV is the Trojan horse for MoE. If he actually thought it wasn’t going to be a MoE, he’d be tearing apart LN, Fedi, etc, but AFAIK, he isn’t.

PS His friend Eric Weiss recently said he still thinks US and China could band together to stop Bitcoin.