Yes it is not based on the mining equipment and of course even if you need such expensive mining equipment and the price of mining still larger than the current price , what do you think of getting bitcoin from POS? it will ofcourse be such lower. In addition, some feature of shitcoins is a great feature, no doubt about that but changing to POS is not a good thing to follow
I never said that PoS is the best option (actually, I agree it's one of the worse ones), but it's
an option.
However, it doesn't matter as long as Bitcoin has fork-o-phobia.