Everyone is putting rTokens and crypto into the same margin pool,earning dividends without selling the shares, while using them as collateral to borrow stables or open perps.

The mechanism is undeniably attractive, but for this setup to actually work, the core isn't the product feature itself, but the easily overlooked issue of liquidity.
In the trading world, liquidity is like air. The current RWA space is flooded with liquidity. The moment massive volatility hits at the U.S. market open, market maker bots instantly pull their quotes. When you hit market buy, slippage can instantly chew up 2% of your principal. Collateral without genuine depth is just free money for market makers.
Turning U.S. equities into crypto margin is indeed a great way to break down the barriers. But the absolute backbone of all this is having the depth that allows you to enter and exit at true, fair prices at any time.
No matter where you trade, spend a few extra minutes watching the order book before executing. Don't pay the price for fake depth.