Convenient? Very! Avoiding the ridiculous contortions and stupidities foisted on the aviation community by the ever-changing European regulatory systems must be a huge convenience. The changes from national regulators to JAA and then EASA have confused many and cost plenty for no good reason that I can see. The one great thing about dealing with the FAA is the certainty - they write everything down, there is rarely an "interpretation" and they are generally practical and pragmatic about the things they subject their "customers" to. Upgrades and improvements are cheaper to install and more plentiful, training concentrates on the useful stuff and maintaining one's licence is far simpler. The only actual cost savings are on pointless paperwork and involvement of people who do not need to be in the chain. "Hiding" behind trusts is not actually happening - the FAA know who is behind each one. The same sort of rules appear in most countries registration processes and companies or trusts are used to make things legal. try to register something in the UK if your are not an EU entity or passport holder....
Aerial work by N registered aircraft is allowed with permission from the CAA. Illegal flights are illegal flights, whatever the letters/numbers painted on the side and the Sala flight was a sad, preventable incident. More involvement by regulators, rather than pronouncements from on high, might help the community be safer all round. The confrontational stance does not help.