Jokes about masturbation aside, I think that the Thoth does have certain traps, but not in the traditional sense. It obviously involves a certain kind of study, as well as inviting thought experiments and a less formal and traditional experiential learning process. Taken strictly intellectually Thelema is a study in freedom; what it is, how it manifests, when it is truly present and when it is an illusion, the factors that increase or decrease it and many other facets of its definition. Distilled, the Thoth's agenda is liberty and the sanctity of the human experience, and that is all it conveys, but it doesn't tell you how you should manifest that privilege.
Studying it one cannot help but ponder the nature of that freedom, which invites all sorts of other things, like questioning how one could take advantage of the entirety of one's faculties, what is one's basic essence when all extraneous influence is removed, what in life is truly important and what is your own version of a security blanket and many other directions of thought and self-realization.
In that sense the Thoth is as subversive and as dangerous as any revolutionary propaganda, far more even, since it encourages independence, critical thinking, individuality, self reliance and boundless exploration of the self. Were I a dictator it would be among the first things I would ban. On the other hand, if I were a revolutionary I would probably shun it as representative of the decadence of the dictator I was seeking to overthrow.
And the best thing is that you know you're being seduced, yet you go along with it of your own free will and then ask for more!