I like the post latetot. I honestly am not hot on ‘synthetics’ itself.
One thing I realized though is there is a different way for Maker to use what one might consider as ‘synthetic’ collateral example is cUSDC vs. USDC. I know this adds smart contract and centralization risk. BUT in this case since the token is not USDC directly but cUSDC we heap somewhat the circle blacklisting on to compound or a 3rd party intermediary. Personally I trust Compound a bit more than Synthetics at this point. But the point here is that it might be actually better to heap the centralization risk on to other parties if possible. Heck if more DeFi protocols offer deposit tokens that represent claims on systems these actually may be a better way to offload and spread risk in such a way as to make it difficult for centralized token providers to blacklist effectively.
This is completely off the top of my head thinking inspired by above post, even if I am not entirely hot on synthetix itself, conceptually the idea of using synthetic assets as deposits seems an interesting way to spread centralization risk. The risk here is we are heaping not just centralization risk, but also second centralization as well as smart contract and liquidity risk on these things.