If list.c is part of the project, it’s easier because you don’t have to hunt down every dependency’s repository. It’s much easier to audit and trust 5 projects/orgs, than 50 different entities.
When you work on rust, in any IDE you can click through any type and see its implementation, even if its within a dependency. No difference in auditing, except you also get the guarantee of `cargo vet`.
50 different dependencies covers a _lot_ more behaviour than a list.c. The point would be to audit a list package, and have audited it for all users, rather than all users needing to audit their own.