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