Tony from Mutiny talked about the latter point today on WBD. Technically speaking, you can self-custody the tokens. Socially, they're an IOU for sats and should be treated with the rug risks of custodian. I'm all for understanding the technicalities, just important to not mislead people.

unfortunately he's very aggressive and totally screwed in his head. he's been spreading schizophrenic lies for a long time. before his jihad against ecash, it's been Blockstream being a conspiracy run by reptile people.