Personally I'm not too worried about Ripple concentrating power in the hands of it's founders. The massive pre-mine and idealistic "Trust us to distribute them fairly!" approach is bad enough. But the crazy IOU and trust system is way too confusing for the average consumer. People don't want reputation-backed IOUs, they want cash in hand.
What difference is there between "cash in hand" and IOUs? The only difference I can see is in the degree they are trusted. After all, conventional cash is just as much fiat as any cryptocurrency IOU.