1. Documenting yourself committing a felony and sending the evidence to the government is not a good idea, especially when you are in a persecuted conservative, gun owning minority.
2. The ATF can change their minds about the amnesty and revoke it at any time. Filing the Form 1 does not legally protect you.
3. The ATF can also change their minds about dropping the 200$ tax.
4. Registering guns is bad.
5. Using the free tax stamps looks like you are complying with yet another unconstitutional gun regulation. If these are added, and it works, people change or register guns, what will be defined as illegal next? The best thing gun owners can do is to ignore it. This is the main reason why I will not be SBRing anything even though I already have NFA.
6. You do lose the ability to sell the lower[EDIT: lower can be sold without even being removed from the registry, thanks
@BigWaylon], take it across state lines without permission, conceal carry them in NC, move without informing the ATF, resale value goes to zero, etc.
7. If the courts strike this down on either 2A or Bruen grounds, or the NFA down, which is not impossible, you will have licked the boots and registered your guns with the federal government for no benefit at all. That is not what patriots do.