A service address isn't sufficient to, for example, easily piece together that one private owner has quietly purchased 70% of some town's resources, especially if they've done so via a collection of shells. And most legal actions against such abuse generally start grassroots; regulators aren't aware there's a problem until people complain.
Hiding information from the public makes it harder to notice abuse.
Flip the script: when an individual has incorporated and is enjoying the legal protections of being a corporate entity, why do they need their name hidden? What value in the society of granting them that privilege when they are enjoying legal protections and privileges not enjoyed by all members of society?
When an individual has registered a car and is enjoying the right to operate a 6000 lbs death machine on public roads, why do they need their name hidden? What value in the society of granting them that privilege when they are enjoying legal protections and privileges not enjoyed by all members of society?
The real question you have to answer is “Why is it necessary for company ownership to be public information?”
> A service address isn't sufficient to, for example, easily piece together that one private owner has quietly purchased 70% of some town's resources, especially if they've done so via a collection of shells
What’s wrong here? Even with a perfect UBO registry that private owner could just get together with a couple of their buddies and divvy up that 70%.
What legal action are you going to take? Owning 70% of a town’s resources is generally not against the law.
Given that corporate charter is a grant by the government acting on behalf of society at large, the question is not whether company ownership being public should be necessary, but whether it benefits society. There's no natural right to form legal entities distinct from one's person with no strings attached.
> When an individual has registered a car and is enjoying the right to operate a 6000 lbs death machine on public roads, why do they need their name hidden?
It's not. They carry a driver's license and law enforcement can reference their name by license plate.
The legitimate purpose is choosing to not trade with a company owned by a particular person. And that facility should be open to anyone without having to jump through hoops.
I really can’t see how your interest in not doing business with companies owned by people you like could possibly outweigh every business owners privacy interests.