I might have this wrong, but my perception is the step rocks a bit if the glue fails and that, structural concerns aside, it produces undesirable noise. If that's indeed the case, then replacing with a normal grade 8 bolt likely won't resolve that.
I'm surprised there is that much play. I think the tube in tube design is smart. I'm sure they'll figure a way to maximize that design and it will be awesome.
I'm surprised I haven't heard of anybody grinding down the points at the ends of the steps. That's a common complaint, and it seems resolvable.