in USA sure. just like square wasn't obsolete in USA on the day it shipped. doesn't mean that it's not obsolete in europe.
but you know what? they still need to get the CC companies on board for it to be legit. doing clones of magnetic cards has always been simple, but it is against the rules.
but again, since in USA you might have tills that only take your signature as verification that it's you and have you do self service checkout of the items without human interaction.. so there's an use case there that doesn't need another person.
at the very least anyone would be stupid to accept them without checking and recording the ID of anyone wanting to use it..
(oh and the issuer can expire the card before expire date stamped on it.. check your contracts...)
furthermore, the chip/pin technology is MEANT TO BE SO THAT YOU CAN NOT DO A SECOND GEN "COIN" TO ADDRESS THE ISSUE! it would defeat whole point of the chip - so they would have to do direct deals with the card provider companies and make it all a big hassle.
coin is a kind of product that is easy to come up with but pretty hard to implement so that it's not against any rules and works with tech that's not from the '80s...