You raise some good points. Here are my (our) thoughts on this:
For clarity, our backlog is the list of all the things that we have yet to do, bugs we've found and need to fix, features we'd like to add, and our hair-brained schemes that we'd like to investigate further. I promise they don't all end up in a void, and we go through them every week or two to remind/reorganise/reprioritise them.
Our list is pretty big (I think we're somewhere around 50-75 things). Some of the items are tiny, and some of which could take a couple of weeks or more.
In an ideal world, it would be cool to be able to make it all public so everyone could get excited about what we're doing, but the truth of it is that having our backlog fully open could cause us a whole bunch of trouble. There would likely be disagreements on which items we've chosen to focus our attention on (and how soon we choose it), and it opens us up to comments on how long it's taking us to implement each of these things. There are also things on our list that we'll likely never get to or aren't worth the time to change/fix. We have them sitting there so we can reflect back to them, but they don't serve the same function as other items on the list. There's also the fact that we have a bunch of other things we're doing to keep the studio running that people often forget to factor in (it takes way more time than anyone ever thinks, especially as there are only 4 of us).
That said, I can totally understand wanting (and being excited) to know what we're up to. We've had an open backlog/updated devlogs before, but there's a big difference between the time before and after launch. When all of our team is back in one place (we've had some lovely vacation time and a conference shaking things up), we can have a chat about how we can make things a bit more transparent. We likely won't be making our entire backlog public, but we could perhaps find some middle ground in which we can give better updates about what we're planning on getting done and where we're at with it.
And it sounds crass given the conversion but I'll put this in the backlog so make sure we take the time to discuss it and see what we're comfortable with/have time to do well.