That ^ is true, and might be of concern if the buyer has done 1 or 2 verifications in the time between purchasing and "selling". Personally, I have done a fair number of private transactions since the system came into effect...and many more verifications than transactions. A verification is no guarantee that any transaction has occurred. Each verification exponentially increases the difficulty of tracing any given firearm.
"Hi, John, this is the RCMP. You bought a ### in March/23, a YYY and a ZZZ in May, a AAA in June and a BBB in July. We see you pinged Mike, Bob, Steve, Fred, Gustav, Dave, Tony, Raoul, Frank and the Barducci triplets between March and July. Who bought what?"
Have fun with all those endpoints...each of which points to even more endpoints...I'd call that much more than merely a "marginal" inconvenience.
I'm sure this was indeed intended as a registry of sorts. Thank goodness that the governmental penchant for overcomplicating stuff, which normally works to hinder us...in this case will result in them tangling up their own feet in red tape. This system can certainly be tweaked in ways that will eventually hamstring us, but...as it stands...it is nothing but a PITA for them and for us, achieving very little other than laying the groundwork for more BS coming down the road in the future.