While trying to solve this issue, It should be noted that not all communities require mandatory profile creation. While it is compulsory for a dating community, it's not for some others like my own project. 

In my case it's compulsory to be Authenticated if you must drop comments or vote or access some category of information. So you only voluntarily create a profile if you want other visitors to know who you are. So it's different strokes for different folks.

It will be nice to be able to harmonise the signup form for those that needs it, while still allowing ordinary authentication capabilities for others as it is now.