This is precisely why I'm a fan of PPC coin. First, big hardware isn't given as big of a preference in mining. Second, the mining rate levels off at a 1% increase per year, so nobody can ever own a large fixed fraction of all PPC coin for all eternity.
It also doesn't have a cap, right? That's problematic for its own reasons.
To pay for mining, you can either tax the holders of coins (through minting new coins) or the users of coins (through TX fees). For a variety of reasons, I would rather tax holders than users of a currency.
BTC mining is supported at first with a tax on holders in the mining phase and then changes to a tax on transactions after the mining phase. This is not my preference. If you stick with taxing holders of currency, you give better incentive to use it and you prevent the "ponzi scheme" characteristics of Satoshi or the Winklevosses owning > 1% of your economy for all time.
On top of this, PPC coin uses proof-of-stake instead of proof-of-work, which makes mining much cheaper in the first place and less vulnerable to attack by owners of large amounts of TH/s. It's a strictly superior system.