Come on now zero drawbacks? Everything has drawbacks. Well, let's start off with Liquid. No sender or receiver privacy (only amount privacy), virtually zero anonymity set because no one uses it, no p2p markets/merchant adoption, and custodial. It's a worse Monero on almost every dimension, besides longterm price, but if you care about that why not just hodl Bitcoin securely? UX on Lightning sucks. Inbound/outbound liquidity is unintuitive and clunky. The larger the payment the more likely it is to fail at routing. To acheive strong privacy (from both counter parties and third parties) and actually retain sovereignty you have to jump all these hoops which is why vast majority use custodians or LSPs that diminish your privacy, permission your transactions, and the former can rug you.

liquid's security model is worse than even solana