Thank you for your reply. Of course Apple shouldn't reveal who the owner is, but certainly they could give the owner the device the contact info of the finder and let the two of them take it from there. Of course precautions would be the same as when a stranger manages to find the owner. Meet in public places, check phone for malware, key loggers etc., but America being the litigious country that it is, I sort of get it, though I can't help but feel the motive is financial.
For everyone who leaves a way for people to contact them if lost phone is found, do not leave an email address, it will go straight into spam, leave a phone number of a trusted friend or relative who knows how to get ahold of you by ways other than your phone number.