I want to point out that newspapers were some of the first entities to set up websites on the internet only to have their clocks cleaned by them.
You are right...the setting up a crypto is not a token on a decentralized blockchain. It is taking their fiat currency, which is basically digital already, and throwing it on the blockchain. They still control it and can manipulate it very easily.
This is just another step in their demise and, very predictable. They will embrace what destroys them.