You're right that there could be some more sophisticated handling of this.
Basically what happens is, that the configuration fails to load which in turns results in the Console having no perspectives to show which it thinks is because they were all hidden due to security and that's why you get the somewhat misleading error message.
Basically what happens is, that the configuration fails to load which in turns results in the Console having no perspectives to show which it thinks is because they were all hidden due to security and that's why you get the somewhat misleading error message.