I reckon they think they do.
My reading of the Jags Foundation statements and the profiles is that they basically have no faith in us.
They're all from the same strata. MDs, CFOs, lawyers, etc. They are elitist and think the unwashed masses will be so busy trying to search for success the club is run into the ground.
You can see repeated comments to the effect that fans can't be trusted dotted through.
They think a trust is the perfect model for fan ownership. We are the beneficiaries of the ownership. It is to be run for us but but not by us.