I guess I hate it because I believed marketing term "family sharing" and did not realize it's "family sharing with caveats and significant limitations". With that incorrect belief I bought a number of games for both kids and myself before I realized full impact of these limitations.

What's worse, even with hindsight I'm not sure how a parent should organize 2-3 accounts to allow all what "family sharing" implies. And consider that kid now plays some Mario game but in a year or two would play Wolfenstein, so it's not easy to separate by "my" and "their" games.