The lack of research is concerning. I'm refraining from staying on the diet for too long and am opting to cycle in and out of it by re-introducing carbs periodically.
If you're in really good health before you start a ketonic diet, it's probably not too much of an issue. But if you have an underlying kidney condition already, it could exacerbate that condition and possibly lead to kidney damage or failure. If you are diabetic, in the worst case it could lead to ketoacidosis and coma, and potentially be life threatening.
Add to this that apparently most of the dramatic weight loss seen on a ketonic diet is simply water weight, in some cases people also start losing muscle. That's not what you want, obviously. A ketonic diet is a really poor choice for someone who wants to put on muscle.
There are better and significantly less dangerous ways to lose weight.