Luckily enough, the way I'm reading it is that layer 1 bonds is a non-starter.
I speculate that it would slow down the chain to keep track of all the data.
This is why smteees!™ never happened.

Layer 2 can be just as secure as layer 1, if the devs build it that way.
Then folks can write whatever contracts they want, and we will see what floats and what stincs.

I'm hoping vsc delivers on that, we'll see.