If anyone tries to use a whole bunch of the accounts to vote for themselves they will be disqualified. This isn't the WG elections, this is for a real entity. You can't be blacklisted because you can't have committed fraud or be of the type of character to commit fraud. Would you want someone running a non-profit who has a history of fraud? I don't think so. The cap is so a single whale can't dominate the decision-making.
RE: Steem Foundation Elections