We will see what they can do i 2 years. I agree that a huge danger is there when a handful of people hold so much of the wealth.
Essentially by having a token distribution like that you have tiny blockchain use. You want the money pouring in but when it does and you dont guard against horders there is no way get wider adoption which should be your goal. Those tokens just end up floating in the air.
If FUD, and i mean real FUD would happen, EOS could disapear in a week. STEEM is another thing all together in this case. We have strong believers, we have a 3 month power-down time and you have token distribution tied in into the system as a whole (although inneficient) that will eventually and slowly lead to more individuals holding Steem tokens.