Yes you are entirely correct. Even I was thinking of the same thing when I came to know of such a thing.
The first and foremost part is that it involves a third party vendor to initiate a transaction.
Why would we compromise our bitcoins with a third party just so that we don't have to double check the address we are sending our bitcoins to.

I think it's just lame and also it hinders the motive of bitcoin to be used as peer to peer payment method.
Any point where we have to use a third party destroys the motive of bitcoin.

I think the undo button is only for people who are too lazy to double check the address before sending coins. Because in my opinion
no one is lazy to do that which takes only a few seconds, which exists because of carelessness. So things like that will always be
pros and cons. But in my opinion the undo button feature is not needed, try more carefully before sending coins. If it reaches the
undo button realization by involving third parties for bitcoin transactions, there will definitely be a risk.

Nice Scrow service, they hold the sender coins and decide if let it go to the receiver or if chargeback the transaction...

Am i the only one who can predict a hell tone of scams done with this service. You could buy paypal money and chage back the bitcoin for easy double up.

Undo button for transactions. what if the sender made payment for a high fee and pick up by miner almost immediately or would there be e central control where the transaction will be help before processing? That will go against decentralization of course. The only best way in my own opinion is to establish a medium of check where the amount and address are confirmed second time before the processing actually takes place. Most wallets have this feature

Are you scared that it would be used for scamming people? Mate, no matter how you put it, there will always be people that are using it wrongly. It's just up to you, when you know how people are misusing it, then you have to be careful. Cryptocurrency doesn't have Central control and no unit to report to when you're having problems. Even now that there is no undo button for transactions, a lot of people are still being scammed because they sent their money to a scammer or they sent to a wrong address.

Though the one of sending to the wrong address is a dumb mistake, I have never made that kind of mistake, before I make transaction I request for the address I'm sending to and then I copy it and paste and when I'm about to enter my pin I check the address to be sure of it. I don't really understand why people are making such mistakes.

Anyone can recover lost coins by creating Hardfork, but will the entire network be forced to follow, no.
You can take back all your currencies or even create a new transaction with thousands of currencies.
The value of these currencies will be zero because no one will want them.
If this happens to Bitcoin, its value will be zero.

Most of the online wallet nowadays requires a confirmation before proceeding on the transaction. Not only in the bitcoin wallet but some local wallets have also a confirmation feature to avoid mistake transactions. Undo feature might be helpful but it'll lessen the discipline of checking the correct information on every transactions.
That's why we shouldn't rush things and do the transactions carefully to avoid problems. There are many of scammers in the digital world, always hesitate to transact with someone we doesn't know personally.

Would it promote potential scammers? This is great for those honest mistakes incurred by users but I hope scammers will not use this for their illegal activities. As a crypto user, just make sure that your transaction is safe and secure. Don't trust people that you just met over the internet.

All I know is that it requires confirmation when transacting from a good wallet. In this case a code goes to your phone number or a link goes to your email for the successful completion of your transaction. You should make sure that everything is OK before confirming it. Then there will be no chance of being wrong.

Worried about the miner to confirm that transaction too, I'm not fully aware of this undo button maybe there is a function where the undo button is only available for a short time, I don't want to think the obvious way of putting an undo button it is really useless and hassle at the same it. What we need is a sense of self-security, the essence of double checking everything upon sending any funds to others.

Or just a visible clipboard software? I haven't see any one using or recommending this, or maybe this isn't existing yet? it would be a lot of save effort.