I do think that is a fundamental breakdown for the premise of decentralized governance. People could say it is like a persons ability to form a company. You could have infinite new companies but a lot of these chains aren't really supporting that many people relative to their market caps.

It's tough to solve the problem with no funding but even a lot of big companies haven't really wanted to invest in the build out in a lot of ways. More just capture the head of the snake and hope it appreciates with all the activity going on.

Then chains that raised the money don't really want to allocate it. It's more about keeping up operations and just sitting on what they raised.

Block One supposedly still has 140,000 Bitcoins. Ridiculous