Code can be exploited, have bugs, not do the job correctly, etc. Code is law is silly. That's kind of like saying because my code for my body is such that it allows me to attack things that the fact that I attack and kill things is okay because the code allows it.
Programmers are humans, not omniscient super beings. They can only plan for things they think about. They may not think about exploits. They also are not thinking "Because this doesn't prevent it, it must be acceptable".
There are a lot of things CODE can permit. We have to use some common sense, and community discussion to discourage bad actions. We should NEVER simply fall back on the CODE IS LAW to defend any action. That is reckless, stupid, and potentially evil/malevolent.
As to EOS FUD. It's way too early for FUD as far as I am concerned. I am seriously waiting for a platform like Steemit where I can blog and transact in EOS like we do here. I look forward to that.
"Code is law" is silly but also "Government will save stupid people is silly", BPs superpowers should be activated just in severe situations and with an EXPLICIT reason, not for opaque reasons an disputes between 2 people or bad diligence to store private keys..
If you don't trust the other person you should use multisig.. not a government
Nation state governments have a monopoly on currency creation and violence in a geographic region. This is entirely different.
"Stupid" is a relative term. If we want a free society, shouldn't we ask ourselves, "What responsibility do we have to take care of those who can't take care of themselves?" If you win the genetic lottery for intelligence, and I don't is that just too bad for me? Tough luck, sorry chuck? I think we can do better and the veil of ignorance concept of philosophy suggests we should think carefully about how we create systems to judge who is stupid and who isn't.
Ideally, the technology becomes easy to use with account recovery and more. In many ways, these early challenges relate to the limitations of ETH, not EOS.