And it is the kind of standard you should follow if you don't want to be cheated or scammed by others. It can also be used in grading Bitcoin related projects or works before they are approved and/or rewarded.
The verification should be based on fact that a project, work or claim should be with little to zero fault/issue, or according to what you want. I prefer a faultless solution rather than what I want.
Finally if you want to be more certain get the Bitcoin Community to help in the verification.
Don't trust, verify is very right reminder but I disagree to rely on Bitcoin community to help in verifying quality of a project and other things. It's risky because in the community, there are scammers and if people are not careful, they can be scammed too.
From good intention (verifying information, project) to be safe, they eventually will be scammed if they trust scammers in the community.
My advice is more simpler, don't trust verify, but if you can not verify things by yourself, don't try to find "opportunities and also high risks" with new projects. You will face with more risks than opportunities while Bitcoin is already a very strong project, highly secured blockchain, and very good for long term investment. No need of finding new "germs" and lose money to them, if your verifying practice fails.