You didn't read a word, did you?
Of course I did, but I'm failing to see the
practical difference between simply handing a disproportionately large amount of the coins to a select few controlling entities, and awarding them the coins after a (mostly) trivial amount of mining. You can theorize about the altruistic and right-minded nature of the founders and early adopters (and I'm certainly not saying you're wrong), but those same arguments could just as easily support pre/instamined coins. At the end of the day, they control a significantly larger amount of coins than the amount of work they put into mining them relative to those that come later, regardless of what they choose to do with them.
I should note that I'm not begrudging them the right to do whatever the hell they want with their coin. I've never understood the people that bitch and moan about premined coins, like it was their God-given right to a fair shake for a particular coin. Maxcoin is a great recent example. Personally I just vote with my hash power and go elsewhere if I don't like a coin or its profitability is low. I like Darkcoin and would probably buy into it if I weren't risk averse and tend to avoid speculation.