Your question is fair and reasonable. Humor me as I offer my thoughts.
TL; DR - Given the nature of our segment of the hobby and the market therein, a realtime price "guide" isn't feasible. As nothing more than a sales price history, the data would be interesting and harmless. Any real-time or recent sales history tool would ultimately be used by folks improperly - and to someone's financial harm - as a price "guide", no matter how innocently, transparently, and benignly the data was made available.
For sports cards (and, at one time, collectible card games), you have your monthly Beckett publications. These pubs are generally meant for the trading of recently released products, and typically had hundreds, if not thousands, of data points it could pull from to track general price swings. This was a national publication and therefore couldn't adjust to regional demand - a Barry Sanders rookie card would have sold for more in Detroit than elsewhere since that's where he played - but it was a good baseline indicator. Shops could then apply whatever fudge factor they deemed applicable, but since there were quite a few data points to pull from and it had been in the gig for decades, that's what people generally accepted as accurate.
For older, rarer, or lesser-traded cards, Beckett put out their annual almanac/price guide. That's what The Chip Rack would equate to. These rarities aren't as susceptible to the frequent price swings as the newer releases are because those who want them generally already have them, and their career stats are set. There's also not as many price points available, so it makes sense that there's only an annual publication for these items.
Sports cards today don't trade like they used to...but collectible game cards do, and are arguably traded in significantly higher quantities than sports cards ever were. You've got multiple online pricing tools available at the ready for these items...tcgplayer.com, mtgprice.com, mtgfinance, etc. Again, these don't reflect regional pricing - I know for a fact that, for various reasons, singles trade in AZ slightly lower than they do on the eastern seaboard - but local shops will choose whatever guide they deem most useful for them and apply whatever fudge factor they want to make it regionally appropriate.
There's far, far fewer single chips traded than cards, though, and even fewer traders are savvy enough to use/compile/produce any kind of trading stats or pricing. Furthermore, most of the singles that are traded are older/rarer, and many times those that want them, have them. Many, many chip listings go unsold on
eBay and are just relisted after 30 days. An annual price guide makes sense for these chips, and thus The Chip Rack. Still, just as with the other items, folks simply use that as a guide; typically chips are sold below the listed price as sellers apply whatever fudge factor they deem appropriate.
So where do chip *sets* fall? Particularly modern sets? In that regard, we're kinda the weirdos. The closest corollary we have to sports/trading cards I can think of would be back in the mid-80's to early 90's when many dealers traded recently-printed, in-demand cards in lots of 50 or more. That's done somewhat today in Magic, but not nearly like it was back then, and not nearly like we as chippers do today (where, for us, it's the primary, and nearly exclusive, manner of swapping chips). There was never a real guide for these card lots. Generally lots were sold at a 20% discount from Beckett as long as you were buying at least 50 - and more typically 100 - at a time, but the bulk discount fluctuated wildly from 5% to 50%. Furthermore, there's so many varieties of chips available, multiple purposes, and no standard definition of a "set" - we deal in odd lots of odd lots. And while we nearly exclusively deal in bulk in our world, the data points for most chips are still sparse from month to month, and can fluctuate WILDLY from week to week for various reasons. There's also no consistent or standard grading scale for chip sets which further muddies the waters.
(Note: There is a guide or scale for individual chips, but even that differs from what most of us have used with other collectibles in the past, particularly those standards used for collectible cards.)
So, to your question - how is more information a bad thing? Well, it's not inherently bad at all. Information is simply information. Some of the challenges of a proposed pricing tool are what that information is being used for, how it's used, how accurate/recent/comprehensive it is, and how available it is.
I'll offer two hypotheticals.
Scenario 1: Assume someone has some Stardust Poker Mansion chips they want to sell and sees that they sell for, on average, about $2.00/chip, allowing for a reasonable cash set breakdown. But what they don't see is that someone just released a hoard of chips but needs a fair amount of short-printed $25 chips to make the most of their hoard. That drives the price of the $25's skyward, but slightly depresses the rest of the chips. If the seller had any type of significant amount of $25's and didn't know all the information, they could potentially be losing out on a big chunk of change.
Scenario 2: Assume someone sees some WTH&C chips at $2.25/chip, and that the pricing tool shows they've been selling at $2.40-$3.00 per chip recently. That $2.25 seems like a good price, so they strike. But what they didn't know is Paulson decided to do an annual or one-time run of home chips at $1.75/chip. They just overpaid a fair amount.
These are clearly what-if scenarios with figures pulled out of my ass and their future likelihood is speculative at best, but they are well within the realm of possibility. In both scenarios it was a situation of a little knowledge being a bad thing if they weren't clued into the full chipping scene.
My personal opinion is that pricing database isn't inherently bad, and could have some merit if it's regularly and (mostly) comprehensively updated. There's so many deals that occur outside of the public purview, though, that it's validity as a real-time price "guide" at any given time for any given set would be questionable due to limited data points. It could also be manipulated relatively easily via collusion, or even by the curator/developer, and far more easily than a Beckett or a tcgplayer.com price guide could. Furthermore, if I understand correctly, the developer does *not* intend for it to be used as a price "guide", but simply historical information. I do believe his intentions are transparent and benign. I also believe that even with the best intentions, and a statement of intended purpose plastered all over every page of that database/tool, people - particularly newer folk - would still improperly use it as a guide simply because there's nothing else available.
(Note: I'm not accusing - nor even trying to imply - that anyone has or would do something unseemly re: pricing. This community and its transactions is largely built on trust and reputation. I'm simply pointing out that it's *possible* to manipulate prices in any sales history database/price guide just as it is with the collectible card world.)
) I understand that it completely invalidates my point. Sucks, I thought I made a good one. 
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