Yeah, you are right on the LST assets peg switching due to different fees, different starting points when they started providing a chain and more variables.
I saw the Transmuter contracts being mentioned in the thread regarding a 2nd canonical bridge provider (Add Wormhole as a Canonical Bridge Service Provider - #2 by LeonoorsCryptoman). It might seriously have benefits there, since it might concern indeed the same asset but from different providers. We might kill a lot of discussions if the back-end can cope with the various origins while having one asset denom on the front-end.