It's frustrating if you are trying to rent a place. Prospective tenants should have the ability to easily look up that 123 Main Street LLC is partially owned by a slumlord whose other rental LLCs have accumulated hundreds of complaints.
This example doesn't feel contrived to you? The odds of somebody setting up a bunch of LLCs for each property, maintaining completely anonymity, and somehow these places all avoiding a million complaints visible with e.g. a simple web search just seems, to me, to be difficult to imagine.