The only thing worse than checked-out token holders is token holders who are activist and think they understand how to run a business. It's infuriating the amount of value that is destroyed right now by investors pushing startups to do buybacks, pushing for unproven compensation schemes, and other governance ideas that destroy business value in startups. If I launched a business in crypto today, I would never recommend to launch a token before you are ready to go public. Treat a token like an IPO but even then try to remain full founder control. Almost every founder regrets launching a token now because they got swept along in this wave of seemingly "cheap capital" but now that cheap capital is showing its teeth and biting your own arm off. The downsides of being public and losing control of your own finances is a heavily understudied thing in crypto. 90% of projects with tokens should not have them.