I am asking why it needs full permissions to all device features and storage.
From what I would expect its just updating the host file to point any DNS names in the list to a non existent address, like itself. Is there something more that it is doing?
I don't doubt the dev has a good community rep, just would like to know why.
So what I understand you to say is that lots of dev's out there are being deceptive about the permissions their apps need to do their functions?
Titainum Back, System App remover, SuperSU are a couple that come to mind that state they need very specific permissions, but not Full Permissions to everything.
Don't know. I'm guessing that if most or all of the ad-blockers exibit this behavior, then it's needed. If you want something a little cleaner, try:
http://direct.xda-developers.com/showpost.php?p=32276021
It doesn't update itself (you get to do it manually). It's just a hosts file (text) and nothing more.