Thank you for the due diligence - I had a similar conclusion after doing my research and reading the whitepaper. One of my closest friends told me he was going to send 40 ETH to the Tezos Crowd Sale and I just about $h!t myself. I tried my hardest to talk him out of it, but I was only able to talk him out of 1/2 of it. He still sent them 20 ETH.
RE: Beta-ing the Tezos Experience: Red Flags for the ICO and Open Questions