DAO manages $25 billion but is controlled by a few people? Is decentralization a "pseudo-proposition"?

The ideal is grand, but reality is harsh.
DAO asset management has exceeded $25 billion, but here’s the problem:
👉 Voting rights are highly concentrated
① What does this mean?
Superficially decentralized
In reality:
👉 "Small circle governance"
This is somewhat similar to traditional finance.
② Why is this happening?
Because:
* Tokens are concentrated in the hands of early players
* Retail participation is low
* Voting costs are high
The final result:
👉 Power concentration is inevitable
③ Industry impact:
Short-term: Little impact
Long-term: 👉 will weaken trust
If governance doesn’t change, DAOs may become a “pseudo-decentralized structure.”
💬 Interaction:
Have you participated in a DAO vote? Or are you just too lazy to click? $BTC ‌#Gate广场四月发帖挑战 #