The point is how the prospects of scamming would look to the operators in 2014:
They would know that audits could always be demanded, and that an on-chain trail would exist. If said audits reveal massive grants being given to themselves, they would immediately fall under intense scrutiny, and it would only take one of their co-conspirators to spill the beans for them to all be burned.
For them to actually consider this subterfuge, with the risks involved, would be unthinkable.
They would know that audits could always be demanded, and that an on-chain trail would exist. If said audits reveal massive grants being given to themselves, they would immediately fall under intense scrutiny, and it would only take one of their co-conspirators to spill the beans for them to all be burned.
For them to actually consider this subterfuge, with the risks involved, would be unthinkable.