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 trai

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.