I laid out the diagramming above: Dread Counterspell has one Direct Object ("a creature he can see that is casting a spell"), Counterspell has two Direct Objects ("you see (1) a creature within 60 feet of you (2) casting a spell"). Counterspell specifies that the Subject need sto see both the creature and the casting, which is why SubtleSpell and other tricks can pass it by. Dread Counterspell says that the Subject simply needs to see the creature, and Subtle Spell and other tricks are themselves bypassed. That this is intentional is verified by the accompanying adventure where this is assumed.