You're not wrong.

Ethereum sold 60 million token in a fallacious 'crowdfunding' (a.k.a Unregistered Securities Offering) - the data has pointed to the fact that the distribution in this ICO was deliniar; with most of the purchases coming in large batches, the implication inexorability being, that only a few people are holding the majority of the Ethereum Token.

Then, of course, the DEV's pocketed for themselves an additional 12million tokens - giving us a total of 72,000,000 premined tokens.

It is/was an utter spurious launch, and was unanimously declared a scam by the community during the first epoch of it's existence; yet, through marketing hype, fraud, and unfettered lobbying they've managed
to pseudo-legitimize their scam.

It appears only a a minutia of us remain that bother to do actual research and look through this blatant scam's marketing hype, however the modern milieu simply doesn't care - the scammier, the better, and more likely their ponzi is to make temporal 'profits' in this market atmosphere. Crypto has become a joke - it isn't what it was 3-6 years ago, and there is no going back, it's a snake eating its tail.

We all know this won't last - most poignantly with a neverending spewing of premined ERC20 tokens into the environment - which makes one wonder if Vitalik Buterin is working with some government, somewhere, to undermine cryptocurrency through this blatant scam.