The problem with delegations is, who decides who gets them.
If we decide via the HIVE fund, what happens if delegations need to be adjusted? Some delegatee might go rogue and misuse the delegated stake. (it's unlikely but could happen; Sun using exchanges to overthrow Steem was also unlikely...)

You undelegate them even though the HIVE fund decided who gets the delegation? That's gonna be a PR nightmare... even if they misused the delegated stake.