> I totally disagree with #2. What relevance is the country I reside or the country the company was founded matter?
As you live in the UK, and you noticed business you thought was local or US based turned out to be from the Philippines or Russia, would you care? It's essential the country be included.
> You know their registered name
You know more than that, you know the specific legal entity you are dealing with - the name is part of that, but it's what the name signifies. It's accountability, exactly like every other verification platform: Instagram, Facebook, whatsapp, GPG + university directory with keys, GPG keybase. Oddly enough the verification process for verifying individuals on these platforms is almost identical to EV's.
The only place we trust random pubkeys and a network address is the web, and that's because GeoTrust wanted to save money in the early 2000s.
> are they big/small, reputable, been established 2 days or 2 years, have 5 staff or 500 staff
You are confusing identification with approval. See: every platform listed above (except Twitter, which does actually confuse them and in currently in a heap of turmoil over it). Also your passport - it doesn't mean you're a good person, it just means we know which person you are.