100%, the current system is an Oligarchy, which can never be Decentralized. We must eliminate weighted stake voting on governance issues. Better yet, drop the witness set up all together, make each equal and have the community vote on governance and chain updates.
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Yes and it is worse. We should listen just once to people who really understand their craft, like Buterin and establish a prediction-market instead of a voting market. When you bet on a proposal, then you get eliminated in the case your proposal was bad --> this creates evolutionary pressure which means that only good decision makers survive. Plutocracy = the same idiots on every single decision and hell yes this system right now is a plutocracy where oligarchs use tokens but don´t get punished. Using money = bad. Betting money = skin in the game = good.
Most of the stake is ninja-stake (nothing-at-stake attack) and centralized anyways. What is the difference between china man voting the top 20 witnesses and pumpkin-man voting the top 20 witnesses? ... there is none.
[this is the "decentralization"...lel...before china man]
horizontal bribe attack vs. vertical bribe attack