Your argument is self contradictory because you seem to make an exclusion for Troy's fallibility by pointing to my same argument about the fallibility of others. There's no reason other than you think Troy is some super human.
Troy has basically said nothing about his manual verification process and he says its the worst part of the architecture. There seems to be no mechanism of removing your email from the list once it's added so he'll just keep adding/merging data I guess until it starts giving false positives. He doesn't have the infrastructure to make this scale into a reasonable utility. Even if he did hire employs, he's now delegating responsibility which will introduce new potential judgement holes into the process.
Simply put, it's too big for him. And it has nothing to do with trust. Venture capital is a crap excuse because now there's a profit motive for the service for something that should arguably be non-profit. Venture capital has a track record for producing several, high profile companies that make no profit for years and are compromised in themselves.
The best thing he could do is pass it to Mozilla or some other tech non-profit. It would be even better if it was a government service.
Remember, the founder of Facebook still runs the company. It got big, and look what happened.