But, do you really want exchanges calling the shots on your blockchain. No.

To be realistic: This kind of scenario is what you got in every cryptocurrency.

DPOS means that the chain is in the hand of some big stakeholders which tend to be the exchanges.
POW means that the chain is in the hand of some bigass mining-pools.
Choose your poison.

Btw. that´s part of libertarianisms general tragedy. Libertarians love the free market, but the big players on the free market don´t care for their libertarian dreams.