For the record LTC distribution is actually worse than BTC. This address: https://bitinfocharts.com/litecoin/address/3J5KeQSVBUEs3v2vEEkZDBtPLWqLTuZPuD holds 10.95% of all litecoins.

All coins that were launched in the early days have bad distribution because there were very few miners back then. In any system you are going to have some centralisation of wealth simply due to the early adopter effect.

Disclaimer: I do not hate litecoin.