I agree. I just didn't want to go too much in depth on each point. But I do think that having the source code open is like "come have a look, I have nothing to hide" and as such, is an indication of honesty. If the people who commit code are know real-world people, the likelihood is even higher that they are honest. It is certainly no guarantee, but on the other hand it is more of a guarantee than having a black-box with "there's no backdoors here, trust me".