This is the worst of both worlds, you can spread your malware as a sideloaded apk just fine, but when it's so big that you're probably burned anyways, then you need to verify your account. I think a better compromise would have been for google to require developer verification, but also allow third party appstores like f-droid that don't require verification but still are required to "sign" the apks, instead of users…
I shouldn't need an internet connection just to make an app for a device I own.