So there aren't a lot of whales?
NEM has no whales.
Not true.
Not true. There hasn't been enough sells at current prices to make that anywhere remotely possible. For somebody to get 5% of NEM (450 million) they would have to send the price skyrocketing.
I didn't even mention the NXT AE assets which could have easily produced a couple of monster whales.
Bottom line is that NEM, like any other crypto, will end up having the majority of the coin circulation in the hands of a few, regardless of the initial distribution. It is how it has always been and always will be.