This proposal for atomic swaps has been fully funded: https://ccs.getmonero.org/proposals/h4sh3d-atomic-swap-research.html
But really... XMR's 'killer app' is it's privacy. No other cryptocurrency can ever claim that it's better when it comes to privacy.
cAps was stating the killer app to support the monero eco system would be a seamless unregulated and private decentralized on/offramp and that looks like it is to take the form of atomic swaps. He was not stating that Monero's killer application is not privacy. I think you have skewed the context there. And yes there is no better fungible asset class than monero, not just in crypto.