I've thought about some of these issues extensively and would live to chime in with my 2 cents.
As far as
taking the blame, I do not really think it is their fault. I think LG could be blamed, but
would more than likely tarnish their relationship with LG if they speak as such.
As far as the way they are handling replacements. I think they are doing it in a way which protect mostly them, but us too (us being people who demand a perfect screen). I think a large number of people that have effected screens may not realize or care. If they issue a public statement or a recall they would cost themselves tons compared to servicing only complaints. My received Feb. 17th i7 has very very minor yellowing along bottom 20%. It is only noticeable against white background, such as when I'm perusing this forum. Images, wallpaper, and dock all look perfect. As a photographer I think I still would have noticed, but its questionable and the average person more than likely would not. Everyone who demands a perfect screen is either getting one, or a refund. No problem there.
My point is that from a business standpoint

is saving a lot of money, I mean A LOT, by only servicing complaints, and not making a public statement or recall, but they are also allowing themselves to go through their probably INSANE stock pile of LG screens that were probably mass produced. The only way to minimize loss is to keep swapping out screens until they have none left to find which ones are good and which ones to file loss claims on.
At one point I thought it would be more respectable for

to make a public statement or recall, but then I realized there are still plenty of fine displays out there and it would be a waste or resources to make everyone who has one freak out and send it back.
Personally I'm going to enjoy mine for a couple of weeks and see how things play themselves out. At some point, hopefully when they have newly manufactured screens, I'll send mine in, and if I cannot get a perfect one I'll take a refund and wait for a refresh of some kind.