Probably, the question is how to do it in a way that the team can keep working on it. sustainability is key here, otherwise it would result in a very underfunded project.

I'd rather have a separate service with its own token and a wrapped representation of bitcoin providing additional services like anonymous exchange and lending products than an underfunded L2.

Ultimately it's on the team and the users to agree on model (including financial model) that works for everyone. I don't think they are thinking about Bitcoin L2, although it's FOSS, so if someone invests energy into turning it to L2, they are free to do so.