Yep this what I understand also but I'll have to dig deeper to make a clear opinion.
But from where I stand right now, in the favor of Liquid the fact that their are many more actors who need to collude in order to rug me seem to be a advantage.
Liquid federation can always rug me but there are many parties involved
Spark can rug me some times, but without the need to collude or with less people (just one is enough I think)