I'm not even sold on DAI being better in any useful way. For one thing, a lot of its collateral is USDC (used to be the majority, but less than that now). What's the point of that?

Until you show me a collateralized stablecoin with only on-chain assets as collateral demonstrating clear superiority l don't see the point in a major revamp. This has been done before, of course. DAI originally did that, but didn't perform that well, leading to the current situation. BitUSD was the first I think.