The third-party list on page 12 is not small. The real-time api architecture creates a live, per-query link between a specific user event and every broker in the chain. Batch transfers or delta shares would break that linkage. Zero-knowledge proofs (also mentioned in the study) can prove age without handing anyone a name, document, or photo.

There's no reason Aristotle or Veratad should see who the underlying requestor is. Yoti should receive the verification request, strip the context, make the request - that's it. The fact that it isn't structured that way and they are tagging on additional metadata suggests per-query economics, which creates a direct incentive to route more verifications through more parties, exactly backwards from data minimization. I'm not going to call it a rev share, but the architecture is consistent with one.