It’s not terrible, it’s just a fact born of convenience. The precise value of a fund cannot be instantaneously calculated in the flux of trading, with orders pending.
Stocks, bonds, CDs, ETFs are all valued instantaneously.
What's so different about mutual funds?
Why would anyone buy one? Fees for expertise that does not exist and not knowing what the price is when you buy or sell.
Seems to me they are for the suckers.
That is an issue sith mutual funds. However, ETFs are no free lunch since the broad sale in a short period of time can lead to wide swings in price. This is a liquidity event driven by concentrated positions where managers of the fund have problems identifying which underlying stocks need to be sold and in what quantity. The managers of mutual funds can raise cash in advance of liquidations which is an advantage in steep and rapid market decline.