You brought up many interesting points.
I think we have to ask ourselves many questions:
- What would make a better or the best governance system?
- What’s the goal of the governance system?
- Was there actual harm done by the current governance system?
- What’s the outcome we’re expecting through the best governance system?
- Could it be abused to grow certain DeFi projects in an inorganic manner?
- Could it be abused to empower the DeFi elite group of people, who are apparently very knowledgable compared to average Algo holders?
- Would the Identity-based voting make it difficult for average Algo holders to participate in governance?
- Is it worthy to open a can of worms to make complicated changes to the existing governance system?
I believe in simplicity in the governance and organic growth in the ecosystem.