The letter explains why it's better to use upstream binaries.
Also, it's not true that you get updates via your distribution. Typically you don't get updates. What you get is stale software with some security fixes backported, but whether those backports are done correctly or not is anyone's guess - also, some changes aren't easily backported because they may be large architectural changes. This is the problem Firefox was having which is why they forced Debian to rename their fork of it.
As an aside, Debian does provide excellent
security upgrades for their stable distros. Mozilla does not provide
security upgrades, and does not allow anyone else to do it either under the name of Firefox. They rather have all users upgrade to the newest version, regardless if new features or bugs break certain use cases. Debian cannot distribute such software so they had to fork and rename it.
I think a software which cannot be supported at a stable version with security backports is flawed or in beta. But bitcoin-qt is even worse as according to the google document it cannot even be reliably built from unmodified source. If we can't trust the source, that's almost like having no source at all.
Fixing this should be highest priority IMHO, and could be the only blocker to get out of beta (1.0).