The fact that the Dev premined 99% of the coins, automatically converts them into a kind of "centralized bank". In fact, they openly recognized that if the FAIcoins go up too much, they will sell, and if it drops down, they will buy. Isnt that what the Banks/Governments usually do?

Note this, if the FAI coins reach $1 USD per coin, they will be billionaires, and a few users will get a few thousand and the majority almost nothing. Same old story of concentrated wealth by bankers at the spend of other people...

What if Satoshi Nakamoto would have premined 99% of the Bitcoins?
Bitcoins would have been a joke by now.