When did I say ecash has no benefits?

Pretty sure I said many times that it gives users of the mint privacy from the owner of the mint. That is a benefit. It doesn't provide any additional privacy over lightning as far as what the receiver of a lightning transaction knows about the transaction origin.

While you can't hold ETF shares anonymously like holding ecash in a mint, they have the same counterparty risk. The holder of your sats can just take them. At least with an ETF, there are more legal protections if they do.