Nothing changes for usage. To the user the only change is the concept (pegged to basket of commodities instead of USD), so it's like holding a foreign but still stable currency, like holding Euro even though you live in UK.
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if it should be a mix, it's like an index and very complex to peg.
Other currency pegs could be with smart contracts made. For example with collateral ones.
Its quite simple, you can create an index and peg it to the index
Sure and people need to agree it is worth this amount. Look HBD, it is worth 1 dollar in Hive.
Doesn't work. Do you think with a more complex product it would work? I can tell you, nope.
It would need a creation on demand mechanic.