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Once installed it doesn't pose any real threat. It does, however, let you recover from several types of bricks.The problem with Priiloader is when it started to be one of the mandatory step in every "soft-mod" solutions or "unlock" tutorials out there.
At a result, it ended up being installed in many Wiis when most users probably never needed it in the first place, and most likely does not understand what it exactly does and how dangerous it can be.
Preloader was a neat idea (like many hacking stuff are) and even if I can't speak for DacoTaco's coding ability or seriousness, priiloader sure has some interesting features but this programs should never has been advertised like they have been.