I think the only risk for Dash is that something comes along that displaces what Dash offers or which becomes so much bigger that Dash's ongoing operation is off the radar of most of us.
A deathstar scenario for Dash is if some project comes along that is a small marketcap but everyone is very confident it is going to the moon. Then there is a mad rush to the exits for diehard Dash fans including those holding masternodes.
Also as Dash's price rises faster than the reduction of the issuance of new supply (most of which ends up in the insiders' hands), then either Dash needs more volume of new buyers or the insider control over the money supply becomes more centralized. But right now Dash is receiving an increase in buyers because of the misconception of speculators that Dash is some viable alternative to Bitcoin. But if Dash's price rise outgrows increase in interest and/or something else comes on the market which is clearly much better than Dash for the problems Bitcoin has, then this overbought condition could reverse and given the tiny actual float, it could crash hard, very hard.
I don't know if that will happen. If it does, it will probably be from much higher levels than the current DASH price.
The wildcard is with all the money for R&D from the governance fund, somehow Dash obtains incredible technological accomplishment. But actually money can't buy it. You need open source and special people
who aren't motivated by money alone (myself only being one example of many such as the 176 developers who contribute to Bitcoin Core). Hackers don't respect charlatans who don't lead technologically. So I highly doubt this will happen. But it can't be dismissed as a possibility.