[7bit]

Minimal privacy risk is such a BS "advantage". You put your email out there for everybody to read it. So privacy with mailing lists does not exist

If I want to remain anonymous, I need to register another email address, which is a massive pain in the ass to register AND then to read or reply to the mailing list.

With a forum I register, chose an anonymous nickname and can participate and get updates into my normal inbox anonymously.

[shiomiru]

Also, SMTP straight up leaks your IP address when sending e-mails (the "Received" header.)

[waz0wski]

Possibly the most common open source mailing list software, mailman, has had configuration options to address both email address and header exposure for at least 15 years

At least with email, you're in control of what shows up in your inbox as well as message routing with filters of your choice