This paper has been thoroughly discussed, and I think even debunked, due to authors making a few mistakes and wrong assumptions. I hope I remember this correctly (feel free to correct me if I'm wrong), but they assumed that large wallets belonging to exchanges and online wallet services were wallets of indiviidual wealthy owners, as opposed to belonging to many different owners, and even possibly lumped user's personal wallets together, if the users used the same address to trade on these exchanges. They also didn't take into account that wealthy bitcoin owners break up their wealth among many smaller accounts, and they linked a bunch of addresses together with the assumption that if one address sends money to another, both belong to the same person, despite the transaction possibly being between two people.
All wallets are in a sense personal wallets. Wallets that exchanges use "belong" to the exchange and the exchange owes users BTC upon demand that they might pay or not. So those wallets are more concentrated and large owners wallets are more distributed. Perhaps it averages out. I don't think bitcoin will somehow negate the laws of human interaction. BTC will flow from incompetent users to competent ones so concentration much like with other wealth is unavoidable.