It seems that ultimately governance tokens are mostly controlled by "the group that holds the most tokens / knows how to rally votes," which isn't necessarily a bad thing, but don't get self-congratulatory about "community self-governance." The reason is simple: everyone is too lazy to vote, so they delegate with a single click, resulting in power becoming more and more concentrated, and oligarchic tendencies are a natural side effect. Not to mention some delegations are secretly bound, and with a quick signature, votes are cast; later, rules are changed, and vault permissions are swapped, and you might not even remember what you originally voted for.

Recently, the practice of staking again and sharing security benefits has been criticized as "copy-pasting," which I see as also being part of the governance lineage: benefits can be layered, risks and power can also be layered, and in the end, who makes the final decision? Anyway, I now prefer not to delegate if I can avoid it; if I do delegate, I only give to addresses I understand and can revoke at any time—just to satisfy my obsessive-compulsive tendencies and sleep a little easier.