Now interference engines detonating when the timing belt breaks isn't new, but putting a belt in a bath of dirty and burnt oil that makes it a mess and expensive to replace and basically impossible to inspect is pretty silly. A chain would not have had such problems and become an efficiency and running issue from a stretched chain instead of sudden and catastrophic failure of a broken belt.
It also has the problem of rubber belt pieced clogging up the oil system.
Its fine for people that get all the regular maintence and oil changes strictly on time. But not everyone does it so diligently. And if you buy it as a random used car you have no way of really knowing how good that belt is without a list of every oil and belt change and how hard they drove it.