I am of the opinion that you can establish the global option for PIN usage thru the use of the custom parameters, or you can select for each extension which came as a new feature in V11 (I do not recall it in V10, but possibly it was there).
In any event, the issue about the PIN is really, as you indicated, a security concern. As I indicated, you can disable the PIN and it will not be requested, but only on those occasions when the extension and VM box match; i.e.; when extension 100 accesses its own VM box. If you access VM from outside, the PIN does indeed become a requirement.
Keep in mind that not only is there the concern about the contents of the VM box itself, but that one of the other features is the dial-thru capability where you can dial into the system remotely, access your VM and then, if needed, effectively dial out from there - provided that this option is also enabled. There may also be the concern that the options menu comes into play and that there is then risk about how others might elect to "play" around and possibly do some things that you might not otherwise want.
To me it is no big deal as you can set the PIN to be a single digit if desired, so I don't find it too obtrusive. I just know how many times I see the systems attacked via the internet and I have no idea if the same might hold true from folks getting into a digital receptionist and pushing buttons just to see what happens.