My question is basically the same as this one, EXCEPT for one major change: there is a rather large add-on after late registration closes.
The specifics are along the lines of an initial 4,000 in chips, 15 minute levels, unlimited rebuys in the first 90 minutes, up to 1 hour late registration, but after level 6 (90 minutes after start) there is an "optional" add-on of 30,000 chips. I quote the "optional" because pretty much everybody takes the full add-on (and if you don't you are probably going to be blinded out in a couple rounds or less!) and it is uncommon that anybody has that many chips yet anyway. So, the first 90 minutes seem more like "practice" or just getting to know the tendencies of the other players at the table. On the other hand, they are also getting to know your tendencies, which you could suddenly switch up, but so could they.
So in some respects it seems kind of like a waste of time, nearly half of the whole tournament time is wasted at levels where you aren't going to get a whole lot of chips and suddenly everyone just gets a bunch more. As an example, in my most recent game I played a decent game in the first 90 minutes, doubled my chips without any rebuys and was doing better than 80% of the table, but then at the 90 minute mark my chip count suddenly increased by 475% and was only about +/- 2000 chips of anyone else at the table: barely a single big blind at the new level!
It seems like an argument could be made to enter right at the end of late registration: now you start with 4000 chips with only two levels to play until you add on 30000 more, you won't be blinded out not playing hands in this short period of time, and you save an hour of time playing for low stakes for a questionable amount of information about other players. Is this a valid argument?