Ok, and Proof of Work is also "flawed" by your definition because 51% mining attacks exist.
Unlike a 51% PoW attack, the attack I described against WhaleCoin is
practical, cheap, easy to pull off: any dummy knows how to split 10k coins in 10 accounts of 1k coins each, and get 10x the voting power. Trying to deny this flaw exist makes you look very silly... The only sensible and wise response should be for you to acknowledge it, and then explain how it will be fixed (moderator role?)