Modern Scrypt mining by far has the most decentralized/fair distribution of coins, lowest barrier to entry, and most resistant to ASIC-esque centralization currenly.  (Modified scrypt algos look very promising in this regard to keep it essentially GPU only)

Since it's resistant to botnets and it doesn't have miner manufacturers with a vested interest in fucking over their customers and mining themselves (i.e. ASICs).  It also has the longest history in cyrptocurrency and is well known by anyone even remotely familar, be they bitcoin GPU miners from the past, or scrypt miners currently on anything from the well established coins like litecoin to multipools/middlecoin that exchange to btc, to newer 'scam'coins.

Basically the only way it can be exploited is insta-mining where a coin launches with a far too low diff, and even this can be combated by anticipating it and setting the starting diff higher, or low block rewards early.  and even this 'insta-mining' is only really centralized/unfair for a few days, within a few weeks the overall mining reward has diluted the first instamining

I'm not sure how a fixed algo, no matter what, will be resistant to ASICs.  It sounds like needing a bunch of RAM is just going to make it just like the other CPU coins, botnets and cloud mining.

I guess cloud mining could be sort of democratic, but you don't actually own the hardware, and it's very foreign compared to traditional mining.  Also you're essentially centralizing all the hashing at amazon / digital ocean/ etc.