I think you are severely underestimating the fact that it has NO fees. Sure, there are other coins that you can move around with relative speed, but the lack of value lost for a decentralised currency is absolutely remarkable. It's a beautiful thing to ping back and forth tiny amounts of XRB and see the full amount getting there in no time, and I've seen many people invest on the coin upon trying that.
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Good point. But I think fee becomes an issue when used under the "Crypto as a currency for paying for goods and services" use case. Most people are using it as "Crypto as a speculative investment" and all we do is buy and keep it in exchanges and move around exchanges. In most cases all cryptos except bitcoin (currently) the fee is very low and we are willing to pay for it atleast I am. In my humble opinion, without mainstream adoption the value add generated from low fee is not significant.
No fees is precisely one of the major downfalls of Raiblocks. It sounds good as a selling point, however in practice no fees also means wide open for endless attacks. With no monetary penalty for sending massive amounts of transactions, this thing is a toy.
There's no monetary penalty for sending massive amounts of transactions in XRB, but there is a monetary penalty in having to do massive amounts of PoW to submit all of those transactions (which uses electricity, which costs money).
I'd welcome you to try this attack and see how well it works out for ya :)