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Read the fine print, delegation conditions are subjected to change

True, but I wouldn't worry about it so much. It's not something would happen every day.

It just have to happen one day, and kaboom, down goes UA

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Well, also consider that many projects like this rely heavily on delegators. @dtube gets 97% of its SP via delegation. (77k self vs 2M delegated) For @steem-ua, this number is a staggering 99.85%. (530 SP is nothing) Close to 97% for @smartsteem. 87% for @trufflepig but that's a relatively small supporter.

And delegators are like investors: if the product creator acts against their will, they pull out.