It works by surrendering any pretense of eth being a decentralized cryptocurrency and turning every node into a glorified and bloated transport/identity layer.

It works by surrendering any pretense of eth being a decentralized cryptocurrency and turning every node into a glorified and bloated transport/identity layer. If you’re not validating transactions - you’re trusting a third party. There are no light clients that avoid this problem. It remains to be seen if they are even possible.