Yes it's true. This product has been a damn disaster for me. Pre 2.0, it was fine. Then 2.0 came, and they forced "identities" rather than just folder keys. I paid for the upgrade, wanting to support the company, but now somehow I have two different identities. Also when I upgraded my FreeBSD FreeNAS instance to 2.3.X, yep it totally forgot the identity and shared folders so I had to re-configure BTSync from the start. Now one of my folders has an extra layer of nesting in there that I don't feel like cleaning up, for fear that I'll somehow create a 3rd identity. I.E. On my Mac, my files are Sync-Folders->Misc->{Files}. On my NAS, they're Sync-Folders->Misc->Misc->{Files}.
The best part about the old btsync was the simplicity of the folder keys. Yes. I know these are still supported, but these are the old way, and it's not the direction the company is moving. This identity system is garbage.