If you look at the expected ROI for mining equipment, I think the returns are reasonable.
ROI for a mining rig is usually about 12 months not including any location costs.
The mineum team raised about $60,000 and is currently paying about $5000 in dividends each month, giving it a ROI of 12 months.
Keeping your BTC would have been a better investment, but your ROI is what you would expect from mining.
You are right. According to your numbers about rigs, our ROI is... at least 2 years (50% go to owners) and this not including additional costs while according to dividends it more like 7-8 YEARS in best case only to get "invested" money back. Because of this I don't understand all this voting and and buy back "strategies" that don't have anything behind them.
*This are cold numbers which make sense to me and I think that had to be obvious to owners at the ICO time.
The only problem in your calculation is selective use of bitcoin rate for ICO and dividents.
If you want to talk in BTC, talk about BTC - raised 117 , monthly dividend to ICO participants - 1.6 ( without 51% that you count in)
If you want to talk in USD at current conversion rate... do it... but to say raised 60000 with 5000 return including owners share is bit misleading for my opinion.
This simply looks like nicely decorated dead coin but I will be exciting to be wrong. Just don't like all this fuss about nothing.