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> seems like they are doing everything reasonable to prevent spamming through their service. Not sure what else an ESP can do.

Sendgrid charge you to use a dedicated IP address for sending your mail. If you don't set this up -- and configure your SPF record to specify this IP, against the explicit instructions Sendgrid gives you -- anyone else can sign up with Sendgrid and send email as you. Their configuration guides and tooling actually encourage you to enable impersonation on yourself.

So, maybe they're doing everything they can to prevent spamming, but they're sure doing a lot to encourage phishing.

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