OP argues that Estonia is a member of the EU, and is therefore bound to use the Euro and only the Euro as its national currency. It seems a bit sneaky and underhanded then to launch this cryptoCURRENCY as a "token" rather than a currency.
As someone mentioned further down, estonia probably won't make estcoin a legal tender (can't be forced to accept estcoin to settle all debts in court or pay taxes), avoiding the issue of competing directly with the euro while still allowing the government to play with this new tech.