I disagree with some of the disadvantages there, one of them Medic06 has already pointed out. Spear hands, palm fists, knife hands etc. are all extremely effective if you know how to use them. Martial arts isn't just about competing, in a self defence situation they can be remarkably useful but due to the sporting side of MA they aren't practiced in sparring and therefore aren't used. Why do you think they are in basically any art out there?
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'...You cannot shake hands with a clenched fist...'

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