It has to do with the prerogative of the majority coin holders.
No that is not what democracy does. Democracy doesn't honor the perogative of anyone other than those who can steal from the collective by amassing the most power and lying to the collective by promising everything and delivering nothing (while socializing losses). Get an education. Read my prior post.
Why the fuck would we even be working on crypto currency if governance worked. Crypto currency would be entirely unnecessary if democracy actually worked.
I don't think democracy works, but I do think representative government works.
I'm not arguing that PoS honors the wishes of the tiny stakeholders. PoS honors the wishes of the dominate stakeholders. They set policy.
And what is the game theory of that then. There is an Iron Law of Political Economics which insures the dominate stakeholders will steal everything from the collective. And they are doing it right now to all you in Bitshares. Mark my word. I will be laughing at you later. There has NEVER be an exception throughout all human history for governance.
Remember, I hate Bitshares, but I like NXT.