Which project is a waste of money and why? I really want to know the reason for your comment.

Since the DAO pays in HBD how does that dilute the value of Hive?

E.g. spending 70 HBD per day on developing Hivesigner? What is being developed there? What for is it needed, since we have Keychain?
Spending 165 for new gamification? Nice to have, but not more.
Since those HBD come out of the newly minted Hive, they create inflation. So better safe some bucks here and have less inflation which would be directly beneficial to the Hive price.

Hivesigner is similar to the experience that web 2.0 users have when signing to sites using their existing social media accounts (login in with facebook, google, twitter, etc). That capability is needed to compete on the internet. Obviously right now it does not give us any benefit but it could if the network becomes big enough. So the question should be "is that project is moving in the right direction?". If it is not then we should not be paying for it.

As stakeholders we should question the ROI of every project that requests funds. Sometimes it is not possible to quantify the benefit of some of the projects but there are other ways of assesing if something is worth supporting. Maybe we need to make it a regular operating procedure to ask for proof of work completed (once a month?).

Regarding the total amount of HBD that is payed daily I am not too worried about it. A lot more is traded on the market (it's ~1k+ USD vs 1-3 million in USD of the Hive traded on exchanges daily).

I am not sure that we need the gamification thing. That should be something that apps need to come up with themselves.

Blockchain development and tools for building apps are needed but where is the funding for advertising...for example.