Whoa, that's a three-way speaker with two BMR drivers. Very interesting. Edit: my bad, the woofer is a traditional driver, but the middle one sure is BMR.
Negative feedback is not a bad thing at all. But there are a lot of possible opamp-based topologies for a phono preamp, and a lot of manufacturers just go for one dual opamp with a frequency-dependent global NFB loop. If feedback factor could solve all the problems, there would be no difference...
This review is a pleasant surprise. I expect this preamp has a very short impulse and step responses (without the equalization circuit, of course). It would be interesting also to look into IMD distortion spectrum.
A few years ago, I built for myself a couple of copies of Creek OBH-8SE preamp...