Why would they put governance into people's accounts not as invested into Hive as the whales? Which does point to exchanges where they don't care about governance and only selling is their priority.
Every move or action towards centralizing is bad for Hive. Large airdrops to whales will likely do that somewhat. Multiply that by dozens if airdrops and then we have an issue.
We could come full circle to Justin Sun levels given enough air drops, also big air drops give whales potentially lots of control in any game or layer 2 token also.
Exchanges are a huge problem. Whales are 2nd largest problem. Giving either if those tons of free cash can lead to more centralizaton.
The incentive becomes, accumulate more and more Hive to get more and more air drops. Over years that can get ugly. It's a self fulfilling loop that doesnt need to happen.
I'm bringing this up now, not 3 years from now when it is more evidently an issue
I dont know is there any accounts on Hive that has anything close to a 51% stake of it? Even then you said only 3% of 10 mill hive is rep of hive stake. Upbit is still our biggest concern in that regards.