Very good points made.

Brave is an average browser (can get same privacy guarantees with Chrome + extensions)

Agree but it is useful for not so IT savvy users to start with. Not everyone meddles with browser extensions. Just for example, there are only 10 million installs on Chrome for uBlock Origin while there are probably billions of Chrome users.

They're able to get users because they bribe them using the BAT token

Semi-agree. It is a matter of perspective I guess. Ads viewing is opt-in basis and users can choose not to view Ads to earn BAT. In addition, the use of BAT to eventually cut out traditional Ads agencies is also their vision. So can't blame them for executing their vision.

They haven't revolutionized the ad model, they're just a new middle man between you and ad agencies

One step at a time I guess.

Their principles will get compromised over time as their BAT warchest depletes and the need for money push them into selling user data like any other browser

I think this depends on how much BAT appreciate against fiat over time. It can be pretty sustainable if BAT price increases over time so they can spend less BAT to reward users with similar amount in fiat. Also the eventual model in their vision is for advertisers to pay in BAT which in a way creates a self-circulating BAT economy if successful.

Agree on the subsequent point on it potentially being a security. However, this is true for most tokens out there actually.

Full disclosure that I am holding some BAT though 🤣