It makes everyone below the few whales it takes to get their way feel like they don't really have a say or that it's pay to play and most won't pay. It's bad for morale and I think bad for the whole project. An Oligarchy is simply an un-liked form of government that's in place now in the real world that the average citizen hates. Recreating it here, while trying to sell it as revolutionary is a lose lose situation.
And can you really sell this as Community Voting, if it's really the top 14+/- stakeholders getting their way?
RE: Tokens, Tinkering, and Tantalizing Transitions