Found it:
  https://lists.ntpsec.org/pipermail/devel/2019-February/007659.html

From: Richard Laager 
Subject: Is it time to drop seccomp?

Here is the key chunk.  Thanks Richard!!

I think the setuid/setcap as described above is dangerous. Unless you
limit the permissions on "other" (e.g. chmod 2700 or 2750), any user
will be able to execute ntpd (with a config file of their choice) and
have it set the system time! Also, you probably don't want the ntp user
to be able to modify the ntpd executable, so you would probably want
2500 or 2550 as the mode.


-- 
These are my opinions.  I hate spam.



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