yep, the top part is true like just about every exchange in the world.
I don't believe the last line to be true because of the way the smart contract platform works and is distributed. Others can create their own exchange like services here as well. The software is opensource.
So, if you don't trust this team you can work with another or run your own. We'll work on an entirely smart contract way of doing this down the road, but this is what can be offered here now. Though even with smart contracts they can be rewritten. I'm not sure there's a perfect solution. Especially one that's less than a month old.
RE: Steem-Engine Breakthrough: BTC/LTC/BCH/DOGE trading now live!