I have no clue about Liquid, so I will ask straight what I am thinking:

How is it any different from pegging some of my bitcoin into Binance and using Binance internal transfers between users? There even are no tx fees at all. If you do not like KYC with your small transfers, go for BLink instead of Binance. So what is the difference? If I am correctly informed, Liquid is centralized and custodial anyway.