and of course the developers are the initial stake holders as it should be.
I guess the word "decentralized" means nothing to you.
Keep in mind the cost parameters are quite different for a pure PoS block chain. There are little computation requirements, and thus negligible capital requirements. The notion of 'initial stakeholders' takes on quite a different meaning in this context. As long as the code is open source[1] then there is little barrier to entry, and disagreeable initial disbursements are not likely to be adopted(due to higher competition).
[1] and observationally NXT is not open source. Have a look at Reddcoin though, that's a bit more in the realm of what your considering.