I completely agree. Any potential benefits are far outweighed by the project not being open sourced.

"Our goal is to build a sharing tool that lets you move big files, and big ideas, freely. Without surveillance." [1]

Unfortunately without proof this sort of marketing sounds like "give us all of your data, we won't look, we promise."

... I may be a little cynical because I like the idea of decentralized sync.

[1] http://blog.bittorrent.com/2013/11/05/introducing-bittorrent...