Authentication at toad.com: WTF?

Does the idea of having the list software check signatures strike anybody else as a Bad Idea? Signatures should be checked locally by the recipient -- otherwise one might as well ask the sender to include a statement stating whether or not a message is authentic and should be believed. I wouldn't want to see cypherpunks being used to propogate this false security -- majordomo can no more be trusted, as an external agent, than a message's sender.