It's been retroactively defined as a known characteristic of all Coyote engines from 2011+, by Ford. They replaced some engines and a lot of parts, but looks like they're done with that.
People's worry about it varies. Some engines present much louder than others, while some seem to have very little tick. There are a lot of theories, but not a lot of hard evidence. Some people think it's the injectors from the DI system, some a chain tensioner, others think other things.
Seems to be just an annoying sound. When it first started popping up, people were taking the cars to dealers and Ford was authorizing engine replacements. I don't remember anything about an engine blowing that could be traced to the BBQ tick.
That's a base PP2, though. Many people aren't willing to swap out tires as soon as they buy a car, so PP1 is more attractive (tradeoffs, and all).
Yeah, there are all kinds of known issues with every car. As they get more and more high tech, there are more things to go wrong. Most of the kinks have been worked out by now, but there will always be little issues - body panel alignment isn't great, there's a lot of driveline slack with the MT-82 and Torsen, the shifter isn't THAT great. The important things, in my mind, are replacing the trans and gear oil with better fluids (I used BG from Optimum Mustang) and using a quality fuel and oil in the engine.
