No, it doesn't mean anything.
Monero has better properties when it comes yo being a superior store of value (less volatility than Bitcoin), less inflation than gold, better secrecy, privacy and anonymity than offshore bank accounts, is even more fungible and untraceable than cash.
If anything you can see that flight to safety means going back to Monero. How else would one explain the extreme stability?
Where do you think stablecoins fit in? It seems like their usage is about to be adopted into mainstream usage very soon.
Stablecoins are an easy access to the store of value qualities of USD mainly for the people in LATAM and Asia.
People who use stablecoins do not yet understand the need for real crypyocurrency. It's a gateway drug and people need to move on or they will get rugged.
USD will come down at some point including all stablecoins. Without the privacy of cash those informal economies will have a reckoning soon when stablecoins get frozen or confiscated.
