Raw thoughts.. Frictionless distribution of single, reference assets, backed by Ethereum's security, all over Ethereum's network. This is one outcome we should aim for.
@vladtenev made the point that re-issuing is permissionless, and this is right! We won't avoid having multiple versions issued by distinct issuers, but we can reduce the span or at the very least get one of these versions to be as close to canonical as possible. Wallets can fix the UX for users that are sophisticated enough to care about multiple versions besides the more canonical one.
It's not the only solution to a problem that is part regulation, part coordination, and part technology.. but a more unified Ethereum, with fast, seamless, secure bridges that reduce the distance between the issuer and the chain, allows for issuers to mint their assets once and have them be available everywhere, securely.