Thanks for the insight!

If it's a publicly auditable centralized database, I see the value in it, although limited.

Without 3rd parties auditing changes, does it have any value in practice?

Even then, can't they just reset the whole chain at any time or roll it back? Seems pointless if that's the case

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There's a little blurb on the CT website about how you can run your own nodes.

No idea how it all works in practice. I guess it's like a signet and they just never roll back?

That's the problem with every "block chain" app. There always only one node. There is no incentive to run a node. So no one does.

It ends up being just a database with extra steps.