Every handgun that you shoot with 2 hands allows you to hold the firearm with the non-trigger hand without being burned. that doesn’t make it have a shroud.
If I remember right, a shroud “encircles” the barrel - like the ventilated cover on the barrel on a Tec-9 or the handguards on AR pistol.
And, I dot believe the mag holder counts as you are interpreting it.
With the Glock version, you can not use that portion as the brace and mag holder are separate pieces.
Ignoring the Duty To Inform, this is definately going to be used against us CCW holders during the current court hearings. Drinking and randomly shooting a gun out the window does not paint a good picture for CCW holders.
Getting a non-threaded barrel is easy. I'd definitely consider it as having a form of a shroud for #3. The question is does it actually violate #1? If so is there another chassis option that does not have mag holder VFG?