Although I am an owner or direct shares and an advocate for direct shares, I also often reinvest dividends into passthrough shares on btc-tc and occasionally TAT shares.
While this does initiate a second and third layer of risk, the value obtained for me does outweigh that risk in no small part due to the track record of the parties involved. If that risk for you outweighs the benefits, then that's fine and quite understandable. Everything about bitcoin is experimental and could vaporize tomorrow leaving many people standing around with an empty cookie jar. These disclaimers are warnings for events that are unforeseen and outside of the control of the operators. They do not wish to be held accountable for such events, nor do I personally think they should be. They are providing a service, you are free to use it or not. As with any other bitcoin-related service, do not invest what you cannot afford to lose. Thats pretty much sound advise to follow, and I don't see it as a negative when someone openly points it out.
I'm not saying don't invest in btct. But, don't fool yourself into thinking your invested in AM. AM could care less what the PT holders want of the company. They have nothing to lose or gain by the price of the shares on an exchange. Tired of reading all these stuff of "we need an update from friedcat!" or more network %. AM is not listening, nor should they.
Actually, I think what PT members desire actually does have a "PT" effect. For example, if PT owners are dissatisfied they will divest themselves of PT shares, dropping the price and lowering the book value of those running the PT shares. By proxy those running the PT offerings will become dissatisfied. People vote with their dollars, or in this case, with their btc.
On a side note, I prefer the so-called lack of transparency because I see a well-run and well-positioned company that has no serious competitors on the horizon. (others may disagree, and that's fine). I tend to believe that this causes the share prices to jump around everywhere on whimsy and rumor making it occasionally easy for me to pick up more shares at a discount to my personal target values. I suppose time will tell if my investments were shrewd.