So even though it’s under the limit, would one recommend not being overly cautious by registering it since that could be used against a registrant if they fly it where drones requiring registration aren’t allowed to fly?
I'm not sure. This feels a little like 49cc scooters (most states have 50cc license/registration requirements). The DMV in many states will look at you funny if you try to go register one to get a plate. It's literally 1cc under, purposefully, because it's "not a motor vehicle" - despite it having a motor and being a vehicle. Using the same logic, I'd argue this "isn't a UAV/drone", despite by all other metrics it looking just like one.
But I could see people going either way.