A fingerprint is not title. It does not prove that the person who anchored the file had the right to sell, that a transfer will be enforced, that an issuer is fit, or that a dispute will come out a particular way. The demonstration says so. It uses a synthetic record and public testnets. Treating it as a registry would be a category error.
The same limit makes the design safer to adopt. A credit committee can use a tamper-evident file without pretending the chain has become the land law of England, Dubai or anywhere else. Legal title, enforcement and authority stay where the law already put them.