OP didn't say he doesn't like it, just pointing out the reality. But yes, the reality is depressing.
Let's say I do have the infinite amount of time necessary and the technical expertise to conduct an audit of a custom ROM. Is every single person who's interested in privacy and security required to do their own audit?
If I publish my findings, why should anybody ever believe me? Who am I to tell anybody how safe it is? If you think it's so safe, why don't you do an audit and prove it to those of us with doubts instead of expecting us to do it?
Oh, right. You're operating on faith on these groups of people that you don't know who don't have any processes in place to ensure that what they're doing is safe for their users.