DAOs promise decentralization but fall back on human defaults:

Power-users making the real calls
Social capital > token balance
Pseudo-leaders running it behind multisigs

All “on-chain” just means you get to watch the dysfunction in public!

Most governance today feels like theater. Proposals are sculpted long before they hit Snapshot or Builder. Votes become ritual, not decision-making.

Some projects try to push against this.
WildYield DAO recently proposed:

One verified wallet = one vote, regardless of token size.

A noble step toward “one human, one vote.”

Fairer, maybe. But it shows how far DAOs still are from true decentralization or legitimacy.

If governance becomes a performance…
If outcomes are predetermined…
If decision-making is cosplay…

Then what are we actually decentralizing?