Hi,
It does indeed - the point wasn't lost on me. However the NCC membership approved an NCC board proposal in Nov 2011 that it would no longer provide this option, and now there is no such option available for PI holders. In retrospect I think this is a more sensible way of handling the contractual relationship.
The RIPE community makes RIPE policy, and the NCC should implement it. Not the other way around... Now it might be wise for the community to listen to the NCC's advise about this, but this is not the place to change that. If people think this option should no longer be offered then that should be done with a separate policy proposal that changes it for all RIPE policies. Until that happens the same options should be offered everywhere to keep RIPE policy consistent. Cheers, Sander