FWIW: this is clearly not the case. It's just a paperwork burden with occasional inconveniences, some bigger than others. Millions of Americans, most of whom have more modest means than the typical software engineer on HN, make it work.
The real harm for business people overseas is that opportunities may be closed for you to invest in other businesses or to join a board or something because your status as a US Person causes a burden for others. At the 100 million dollar level I imagine this is not a big deal but at the startup and smaller growth company level it seems problematic. This reduces the opportunity for soft diplomacy and representing the brand of America to foreign people of means and substance.
I would be curious to know if you have experienced or anticipate experiencing this. Perhaps where you are is more closed to foreigners but there are countries where foreigners do lots of business. Have you been invited to invest or participate in boards?