Bob,

From the perspective of the person filing the form for the entity, I would agree that most company employees don't really care about filing a form and having to list a company's beneficial owners/control persons.  In fact, it's pretty clear that a tax return is the most logical way to accomplish that objective (to a point).

On the other hand, from the perspective of the owner of those shares, no one wants all of their assets listed in what will effectively become a public database.  Nothing good could ever become of that as has been made perfectly clear in recent times.

As a practical matter, no pizza shop is ever going to undergo a CFIUS, DoD, FCC or FTC review (which reviews exist for all right reasons), nor will it ever need to.  The details of such ownership matter so very little when compared to the burden or problems they are likely to create.