You're missing the point - the TSA watch list is checked with the name you bought the flight under. You can then change that name to the name that matches your ID. The TSA does not check your name against the watch list when you go up to their booth; they only verify that the two documents match (where one of the documents is essentially fabricated).
Yes, but the point is you have to buy a ticket with your real name. You can't board the plane unless the ticket is in your name. If it is in your name, you get stopped at check-in.