@Gargron

Back in BBS days, most Sysops required a phone call before we enabled access to more than the "Introductions" board.

This created a human connection between user and Sysop that created a fairly congenial environment, even when very strong disagreements were the order of the day.

The VC need to hoover up accounts which they can monetize is what incentivizes open registration. Nobody else needs "all the accounts" so turning on approval is just a good idea for everyone.