They are terrified of Monero but ultimately Monero is only the same thing as cash so they must be pretty terrified of cash too, the only difference being one they issue the other dont. I think because Monero is such a threat and such a big deal in the grand scheme of things is exactly why it will blow up sooner or later and make enough noise and bring enough attention to itself that things come to a climax both in price and push turning to shove.