I agree with you that it is easy to fall for anecdotal reports of 10 odd victims and draw conclusion about a whole country...
... like my business associate and his wife who were one of the first friendly nations applicants in 2012. They have spend so far over USD20k and various legal payments to obtain
citizenship and moved out recently after receiving another demand for USD10k gratuity.
But, it is another thing if you read
Panama facebook expat group of 26000 members. Report after report that noone is getting naturalized.
In another South American country I have intimate knowledge of, there is a whole group of attorneys who became wealthy but have not gained a single citizenship for their clients with some cases pending over 10 years. Their business model is very simple, issue another invoice for "one last bribe" the moment client asks for status report of their citizenship case.