The trust ratings/lists are manipulated through coercion.
Which has no impact on whether MJ is trusted by the community in large or not, as is shown by the variety of people that left him positive trust ratings.
If the other keyholders are trustworthy enough to not collude with MJ, then theymos might as well allow there to be only 4 keyholders.
Which increases the chance of problems to arise should certain keyholders be unable to fulfill their duties.
Potential replacements for MJ would include, in no particular order:
Dabs
philipma1957
DannyHamilton
TwinWinNerD
qwk (I am not sure if he has held large amounts of others' money)
smoothie
RHavar
There are drawbacks to a number of the above people, inactivity being one of them.
I can't say that I, or the majority of other community members (probably), would have any issues with any of these users being selected as keyholders along with a few others. One of those others being minerjones, which invalidates the discussion we're having.
As hard as you may try to deny it, minerjones is someone that is trusted at large by the community (bar a few members with questionable histories and motives, such as yourself). As I said, I'm sure that theymos and everyone else involved has done plenty of due diligence before allowing the current keyholders to become such. I'd argue in a much better fashion than you have done yourself.