The biggest problem with the fast sync is that sometimes when Ethereum node gets stuck, the devs just suggest to do a new fast sync, which - in my opinion - requires enourmous amount of trust in the developers. Hard forks also require a lot of trust, as old software can't be run side-by-side with new software to validate the blockchain.
Yeah, let’s “just” trust random strangers’ computers to tell us the state of financial system. What could possibly go wrong.
If you don’t understand importance of “don’t trust, verify” than you shouldn’t have anything to do with cryptocurrencies (or cryptography for that matter).
A merkle tree is a recursive structure. If you trust a substructure of it, then you don't need to repeatedly re-evaluate that substructure. What that means in practical terms is if the merkle-tree entry summarising the state of the chain as it was a year ago is assumed correct, then you don't need to keep any of the transaction data from before that point.
But this can only work if you don't have to look back. In Bitcoin, every transaction references an arbitrary previous transaction to prove that it has sufficient funds. You would therefore need "checkpoint" transactions that say "This is the amount of money everybody's got now; we can now forget the past".
checkpointing ethereum state or checkpointing bitcoin utxo set is a way to trade away security, decentralization and trustlessness for faster bootstrap. and ethereum folk have become way to relaxed about that fact.
This is simply untrue. I recently synced an Ethereum node on a 2 year old desktop computer. Took ~1 day.