MBFC is a good enough source for routine information, and its system is accurate enough to give a general idea of who finances, who writes, and whether the articles are sourced according to journalistic standards. It’s a good tool to help with critical evaluation of media sources. But you’re right: it’s not flawless.
Your attack on the founder is an ad hominem attack, and I don’t think it’s relevant. Are you suggesting that people can only learn things through a university education?
Besides, it’s often cited by university sources and experts as being a decent enough indicator of reliability and bias, if not necessarily held up to standards of something like a peer review.
It’s a tool to be used in conjunction with critical thought and evaluation of the source itself, and for that I think it’s rather accurate and useful.