I would have to agree with extra88, saying "for all we know PIA could be a honeypot" or "PIA would be the perfect honeypot" is every different from saying "PIA is probably a honeypot".

Looking at the argument though, even if it is a honeypot blowing it is a one-shot deal. The users are never going to trust PIA nor any other VPN that makes similar claims ever again. That means that they probably wouldn't spring the honeypot, if it is one, for anything but the biggest fish.