More back of fag packet analysis of the threading. Which is completely different than that of simple lugged bolts with square faces.
Assumption, that Serbu has chosen a standard thread profile. ISTR 1" diameter, certainly looks about that.
Lets guess that it might be 1" UNF, 8 thread/inch. Leaving three and a little bit threads in engagement (the cap threading is relieved for the first 0.1" to make it easier to fit). Which would be consistent with the picture of Kentucky's stripped threads.
So, to the nuts and bolts:
If using nuts (aka threaded caps) to hold loads, the nut is usually made of lower strength material than the nut. This means the nut can stretch slightly, in an elastic manner, to spread the load. Here is an example looking at five threads engaged, not three. Even so, it is not spread evenly, the first thread taking up say 34% of the load. This is when it has been torqued up, nuts used one time only, not just screwed on finger-tight.
Meaning that the strength of the fastening is actually, in the limit, that of the first thread alone. Exceed that, and it shears, load transfers to second thread, it shears, and so on. This is basic stuff.
Generally the hardness and the actual material strength of a nut is less than the bolt. For example, if you look at the hardness of an SAE J995 Grade 8 nut (HRC 24-32 up to 5/8-in diameter), it is likely to be less than the SAE J429 Grade 8 bolt (HRC 33-39). This is designed to yield the nut threads to ensure the load is not carried solely by the first thread. As the thread yields, the load is further distributed to the next five threads. Even with the load distribution, the first engaged thread still takes the majority of the load. In a typical 7/8-9 Grade 8 nut, the first engaged thread carries 34% of the load. Using internally threaded materials with higher strengths and hardness can often result in fatigue and/or loosening.
But what has Serbu done ? He started off with the cap made from stock. But then decided it was barely strong enough in his estimation, so decided to heat treat it. I'm guessing that now it's of similar shear strength to the threads on the barrel.
So very little load sharing. Lets assume none. Valid, because once the first thread shears the force could then propagate to the second, shear, it, and then to the last one.
In reality, in the limit, the cap is, in practice, hanging on by one thread.
Caution: It appears that one could theoretically increase the thread strength by increasing the length
of engagement. However, as illustrated in the Load Distribution chart above, the first thread will be
taking the majority of the applied load. For carbon steel fasteners (including tapped holes) the
length of engagement would be limited to approximately one nominal diameter (approximately 1-
1/2 times the diameter for aluminum). After that, there is no appreciable increase in strength. Once
the applied load has exceeded the first thread’s capacity, it will fail and subsequently cause the
remaining threads to fail in succession.
So, what is the tensile stress area of one thread of a 1" UNF bolt ?
Fastener Bolt Thread Stress Tensile Area Table Chart | Bolt Critical Thread Stress Area Chart - Engineers Edge says 0.663 square inches.
Serbu said that his rule of thumb is that a .50 BMG two-lug bolt needs one square inch of high strength heat treated steel lug shear area. Go figure.