Maybe have a limited exception then, like rape shield laws. You don't need to gut the entire framework for this rare situation. (Plus it would be fun to watch corporate lawyers try to exploit this loophole.)

I think its pretty easy to separate investment properties from primary residences when it comes to transparency requirements.

This is pure whataboutism and made in bad faith. I feel for your friend (if they exist beyond you trying to make an argument), but there are various physical and legal ways to protect yourself from this situation in the US. This edge case is not a good enough reason help shield foreign oligarchs and large corps holding real estate in secret. There is probably a compromise somewhere between both extremes.