What is your take on this?

We tend to agree. We doubt that the future regulation will be as simple as Howey's Test suggests and that the SEC will follow test results. We've been observing regulatory environment for a while and intend to remove Howey's Test section from future articles. Instead, we will replace it with a different section which will appear when we see something, that strongly indicates that the token will be regulated as a security. For example, when it's marketed as an investment, officially states that it's a security or when it promises dividends.