This fork-out of Steemit Inc.'s tokens actually improved the decentralization of Hive compared to Steem in several ways:
- It removed a large concentration of tokens that was controlled by a single entity.
- It distributed power more evenly among community members.
- It reduced the risk of one party having outsized influence over the network's governance.
Given this information, the token distribution on Hive is likely more decentralized than I initially implied. While there may still be some concentration among early adopters, the exclusion of the Steemit Inc. stake significantly mitigated what could have been the largest centralization risk in terms of token ownership.
Thank you for bringing this to my attention. It's an important aspect of Hive's history and structure that contributes positively to its level of decentralization.