I still maintain that THA is as long as they control their divergence (because there's real substance to their trades, as long as they don't mess up). There's ERQ, as well as NTI. Sure there's tons of noise, but hopefully/probably collection of good stuff is growing/gonna grow. SYO is probably also good long term.
But few bad Darwins can mess up the good ones. I don't think if your expected returns alongside your DD tolerance are as low as @Cavaliereverde's, then darwins are the right asset class. I feel like there are better options, but I don't know for sure (Corporate Bonds?)
I don't think that we should be satisfied with expected returns that are similar to very large funds. Most darwins operate on much smaller capacity - thus potential returns should be larger if we get similar quality people/algorithms.