The reason I like dropcatcher's model is that there's no danger of a caught name going to auction. I respect ukbackorder and dropped.uk because I have confidence they're honest services. Dropped.uk worked for me, this time round, so thank you for that. But the last thing I wanted was to have to enter a bidding war, after the name was caught, with someone who might outbid me. The attraction of dropcatcher for me was twofold: (1) if I got it, I got it, and no-one else could then outbid me; (2) any domain that was not caught meant I effectively got a refund, because I could keep using the catching slot in the future until I'd caught something else with it... I love the fact that 1 purchase can give me multiple shots to acquire domains I want. To me, that is a good deal.
Actually, there's a (3): I trust Simon, from experience over time, and well before this present .uk release. He's responsive, he's caught me names I wanted again and again, and he's earned my trust.
Now, I can see if you buy 250 catching slots (or however many were bought by Tim) then the model might not work so well, because at the heart of my use of dropcatcher is the intention to use the catching slots again if they don't catch the first domain I wanted. With the small quantities I deal in, that works well. 250 catching slots may not be what Tim wanted. But he made that choice.
Different models work for different people. I suspect Tim, sadly, chose the wrong model for him.