I have much the same view on this as a long term investment (even though the picks cycle out every year). Although there isn't a long track record there certainly have been some good picks that have held up even through this environment.
What I like more is that the increases appear to be related to underlying fundamentals and not the crazy rampant speculation that is pushing some stock up.
I, like you, also like the donation of the usual fee that would go to a manager. Seems a more effective way to take an ESG approach when investing in the secondary market.
I'm not worrying too much about reversion to being close to nta over the long term. I was more curious as I have no previous investments in LIC's and was trying to identify if this was a potential arbitrage opportunity or a trap. I ended up adding substantially to my holding and am happy to see it start to steadily rise.
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I have much the same view on this as a long term investment...
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