I wrote about the mechanics of merged mining here, but this video is about the effectiveness of the system. My concern with merged mining is that it feels like you are getting something for nothing. Adding a hash to a Bitcoin block to secure a secondary chain does not require much effort, and the effect of reusing proof-of-work appears to be almost magically securing the secondary chain.
As someone with a scientific background and familiarity with the laws of thermodynamics, apparently getting something for nothing sets off alarm bells.
Watch the video for more on this.
