This is not true, you can easily look at hivebuzz ranking to see that it's plenty distributed. Whales acting in nefarious reasons can be countered easily and it can cost them social repercussions and potential earnings/opportunities down the line.

We've seen how whales who do nothing of value are treated at times with cases like trasnsisto/newsflash where most people, except a few hoping for a quick vote would just ignore them, compared to say whales like theycallmedan who build valuable things are respected on here and end up doing really well.