I really like that (absent monitoring) that there is no permanent track record on chain, also we will produce on chain opening and closing tx that can tell a lot.

I come to the conclusion that two things are necessary for functioning LN.

1) on chain privacy so you can open and close channels without revealing things

2) lower fees/more tx so force closes can not become an economic viable attack

There are still plenty of drawbacks, but LN would already work much better on XMR than on BTC.