I would want to know what compromises they have made elswhere in the design which render the aircraft too dangerous to fly without it.
None.
It is an integral part of the aircraft which couldn't be removed without making significant design changes; if you take the parachute pack and rocket out, the CG moves a long way forward. And then the FAA and EASA require it to be operational because they certified it as the means of recovering from a spin in a Cirrus. They could have demanded a full spin test program - but they both agreed with Cirrus that using the parachute was a better way to recover from a spin with minimum loss of height - 920ft lost in a 1 turn spin with a parachute recovery, and typically between 1,200-1,800ft lost in a 1 turn spin with a normal aerodynamic recovery.