I do see what you mean.
Our local rescue does TNR (trap neuter release) for the truely feral and tries to socialise the promising ones and kittens. I have 3 cats from a feral colony got as kittens. The were rescued at 10 weeks and rehomed at 12 weeks,, 6 months and 10 months. The first two are the tamest, soppiest sit on your lap cats ever. The most recent is still scared of us at times but has now reached the sit on your lap if you are in bed or on the sofa, and she has learnt to demand cuddles. When she first came at 10 months old you couldn't even look at her with out hissing, approach and she would lash out with intent. We got her free from the rescue as they weren't sure she would ever get homed. (may not have too much to do with topic but I love to talk about my babies and many people will say 10 weeks is too late to socialise, farless 6 or 10 months).
The issue with feral colonies, as others have said, is that if you remove them and rehome them, or PTS as I think you hinted, then another colony will just move in. Better to release them, they have a longer less stressful life without the reproductive toll, the numbers are reduced and they still play a role in pest control.
The other aspect to look at is yes a cat with a much loved home will be pampered, wormed, flea'ed, fed (possibly to obesity) and cuddled. But what does a cat actually need? It is an animal, with animal instincts. It has evolved to live in this harsh and cruel world, not to be a lap pet, the ones that are have just cashed in on an opportunity. I don't think cats that are feral and have always been feral are hurt by TNR, they don't know a loving home and many are old enough that they would hate a loving home. They are designed to live with fleas and worms, live from what they catch and cuddle each other.
In short I think that yes the quality of life may not be the same as a pampered house cat, but it is a feline life. We aren't all royalty, most of us could live better, safer, more pampered lives than we do, but we enjoy what we know despite the hardships.
Dans
