I'm going to guess your panel has carriage bolts on it 
I own three original arcade machines and nothing else (four if you count the gutted machine in the shed). Two of them have visible carriage bolts and one of them does not. I didn't make the decision, the manufacturers of them did.
Regardless of what you wish to believe, in the English language "going the extra mile" means putting in additional effort to achieve a desired end.
Yes, and it also carries with it certain implications, like all words and phrases do, due to common language application. If someone puts forth extra effort but gets worse results ("worse" in regard to whatever goal is deemed most important), then people wouldn't generally say they "went the extra mile". For example, if the important goal is to remove rust, and someone stays up toiling away all night with 2000 grit sandpaper and only removes half the rust; would he be said to have "gone the extra mile" compared to someone who removed all the rust in a short time with 40 grit sandpaper?
As I mentioned earlier, it costs more and takes more time to hide them than to just drill some holes on the panel and push some bolts through. They hid them and they did it intentionally at an extra cost.
I didn't disagree with that. I disagree with the "extra mile" characterization of this, due to the implication of this phrase that the results were an improvement over the easier alternative.
And if you believe that the complaints of operators forced the manufacturers to use the bolts, then how do you explain a very recent game like Gauntlet Legends which has no exposed bolts? Are they thumbing their noses at the operators, or did they just wish to not sully the extremely artistic presentation of the cabinet with exposed hardware?
You would have to ask them. I only suggested a possibility. I didn't claim to know the reasoning behind each and every case. You are the one that is implying that you know.
Personally, I dislike the concept of a "generic" cab in an Arcade. You actually did bring up a good example. When the manufacturers (and operators) no longer cared about presentation, the arcades lost something special. Generic cabinets (usually coupled with "do-it-yourself-marquees") lowered the bar, and probably helped in some perhaps not-so-small way to hasten the decline of the industry.
That is something different altogether. Do you find the design of the Dynamo to be ugly based solely on the design itself (and not what the generic cabinet trend represented to the industry)? Keep in mind that a Williams Joust, Atari Centipede, Data East Karate Champ, Taito Double Dragon, etc., all follow roughly the same lines, and that general style is the first thing that pops into most people's minds when they hear "arcade machine".
But I'm seeing that you don't quite get the idea of personal preference. It's possible for an individual to like or dislike anything for no other reason than that they do. You seem to be putting way to much effort into justifying something so basic. Certain manufacturers found exposed hardware offensive, while others took the more utilitarian approach. It prerogative, pure and simple. They obviously preferred one way over the other, so why is it so hard for you to accept that we can behave similarly?
I'm simply pointing out the irony, given the context.
T-molding is seen as an acceptable means of finishing man-made wood products that do not inherently have a good edge-grain. It's used on many a commercial product. The thin veneers used as an alternative are no better or worse. Just a different option selected for a specific purpose.
It is chosen primarily for its durability and ease of replacement (sound familiar?). This is a very important consideration for products intended for a commercial environment. In any event, neither the T-molding nor the cheap man-made wood-stuff material that it is attached to rank very high for "style" or "good taste" (which is the oppostite of "tacky").
It is kind of like worrying that your leopard-print couch looks "tacky" next to your harvest gold shag carpeting.