A fund tracking the DOW is not such a great idea, considering it's not a representative slice of the market, and the process of deciding what's included is opaq

A fund tracking the DOW is not such a great idea, considering it's not a representative slice of the market, and the process of deciding what's included is opaque and not exclusively dependent on externally verifiable factors. Tracking the S&P 500 or FTSE 100 is better, because the criteria for what they include can be validated externally. I mean it's better than picking stocks yourself, but what isn't? As long as it's equally easy to choose a good option and a less good option, why not choose the one that's better?