Max and Oliver are owning their Lisk share so they have right to vote, especially when in their best interest is success of the project they created. It was clear from very beginning how ICO is distributed and the fact they will hold significant voting weight.

I agree that centralization of voting weight is not good, but  vast majority of LSK belongs to community and final decision who is active delegate can be made by community if there is a need for it.

If the election has to be democratic, you can't ban any users from voting

No matter what governing system is in use it will never satisfy everyone..