Yea, fuck that.
Also, as with 99% of "smart contracts". The main contract which allows for updating the smart contract, and thus is ultimately in control of everything, is controlled by 1 private key. Nice "trustless". Just gotta trust this one entity never to make a mistake.
Also, this has literally already been done at least 5 other times already before the "NFT" acronym was invented. Remember namecoin, anyone?