MPOE-PR, surely you understand that longevity and functionality are not mutually inclusive? It is entirely possible for a platform with extensive functionality to exist only briefly, and perhaps even easier for a platform with no functionality to exist indefinitely.
As far as I can see, MPEX has never had a public fund traded on its platform before. I cannot understand why a fund which already HAS been exchange-traded in the past would need to be the party bearing a proposal here.
You are confused. Something that occurred on scammy BTCT, just like something that occurred on scammy GLBSE, may not use this putative "experience" as some sort of authority. It is anti-experience and anti-authority. These funds you speak of are significantly less respectable, less serious and less worthy of consideration for being run by people clueless enough to have listed there, exactly in the way some guy who spent a summer as a witch doctor in the Amazon is less likely to be considered for a serious hospital position than someone who did not.
The general point about longevity and functionality in the abstract is plainly irrelevant. MPEx still has most of the BTC financial trade to date. More than GLBSE over its lifetime, more than BTCT over its lifetime, more than half of the sum of it all over its lifetime.
This isn't going away just because random noobs can't afford a little BTC or don't know how to use computers effectually.