What's so bad about running an IIS web application from an UNC share, as suggested in DotNetNuke docs?

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I've been taught in the past that it is unwise to run a web application from an UNC share. Reasons I remember are security, rights and authorization trouble and performance. However, in the DotNetNuke documentation it says:

The web farm configuration that DotNetNuke initially supports involves two or more front end web servers ("web-heads") whose IIS website root directories are mapped to a common UNC share on a remote file server. The UNC share contains the application source code as well as any static content for the individual sites.

Somehow this sounds to me like a poor-mans configuration and I feel like opening a potential Pandora's box. Is it wise to follow DotNetNuke Corp's suggestion here?

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