I sent mine back pretty soon after I got it. The fit was all wrong for me…way too baggy in the torso area and the sleeves were too short… That was a bummer too because I really wanted to like the shirt.
If it fits you though and you like it, I would say it would be a reliable shirt for a thru hike. Pretty much all of the reviews I had read on the shirt before/after I bought mine seemed to be good (which is why I ordered it). And after handling it, the shirt seemed to be well constructed, like it would stand up to some hard use. Just my opinion though.
EDIT: I see that you posted while I was typing my response. I see that you have the same experience with it too…
As baggy as mine was on me there was no way that I would go up another size. The sleeves may have suited me better on a larger size, but then the torso would have definitely swallowed me whole… I think a medium with the XL sleeves might be a good fit for me, and I really don't have long arms…