POW provides very little security, it gets the credit, but ultimately security is comes from the public record of full nodes. POW is a brute force system for deciding who should produce the next block and creates a scarcity of blocks. There are other ways to create scarcity of blocks and therefore POW isn't adding security.

Bitcoin has 21 million initial coins, those initial coins are locked in a smart contract that is distributing them at a a fixed schedule in exchange for payment in hash power. EOS has 1 billion initial coins, those initial coins are locked in a smart contact that is distributing them at a fixed schedule in exchange for payment in ETH which is proof of prior hash power. In fact this proof of prior hash power applies to the ETH crowd sale which took bitcoin as payment.

Claiming that POW adds security is like claiming that increasing what you pay your security guard will increase the security of your home. Beyond a certain point all extra pay is complete waste and adds no security. In fact, the reality is that it is the camera that broadcasts your front door to the entire world gives you security, the guard is just there for show.

Only those who think sunk cost and/or believe in the debunked cost theory of value can claim mining adds value to the token. Only those with no concept of opportunity cost can support POW.