This worked very well and the only "bad" experience we ever had was one of those 12 people that stayed the weekend of that event was.. harmless, but a bit unpleasant and odd, and that was because we relaxed our vetting a small bit for that event.
And honestly, I don't know if I would have paid for an account at that time, as an active host. I got into it because my housemates were into it and when we were planning on moving in together, we discussed it. If it had cost money to join, I can't imagine we would have bothered, certainly not all of 5 of us.
With that said, nowadays, I think some barrier to entry would make me feel more comfortable with it. Back then, in my early twenties, I was a bit more relaxed about sharing my personal space, I guess.
I was trying to set up my new place for hosting when I ran into the paywall. Didn't want that. Now I'm hosting on Couchers.org instead.