Yes, it does.
There is a big difference between being "careful what [...] you click" and being careful what you don't click. Especially when the adware is presented under the guise of being a security feature, misleading less informed users.
But for all I know you're the developer, who appears to have gone through great lengths to remain anonymous.
Given the choice between open source software and freeware with malicious* adware packed in, I'll take the open source software any day. Especially when there's feature parity.
*Note that the software will even try to prevent changes to the browser settings after replacing the home and search pages.