Here's why I believe it obfuscates the init process - it clearly is less transparent now. Consider logging, consider a new DSL (in terms of keywords, not necessarily syntax) needed to describe services, consider lack of determinism it brings. Yes, it's faster, but definitely more opaque.
As for development process - they clearly have no time to refactor, which makes the code have way too little modularity. It's a huge blob linked against libsystemd and fuzzing the components would really be a mess. The project has much too much responsibility, handling parts of system that could easily be delegated to separate projects. It interferes with desktop environments, GNOME being an example.