Totally agree with OP.
It's ridiculous that
wiki article starts with PoS solving PoW monopoly problem, when PoS main problem is monopoly.
Furthermore PoW monopoly issue is technical and largely academic, while PoS monopoly is in it's very core, it's an economic issue and a daily one.
Problem for small holders - No matter at how low you have bought your NXT, major stakeholders will always have incentive to dump at even lower price.
It's a problem arising from the fact that major holders have bough their coins at infinitely low price (compared to others), and loads of it at that.
And they can make a profit by selling it at any given price, hurting everyone else in the process.
You hold tiny %, yet you have meaningful lowest price at which you can exit - they are not limited from bellow, and yet they hold overwhelming %.
Problem for major holders - They can pump the currency to infinity, I mean sky is the limit, but they can't dump considerable % of it, not even at a reasonable price.
The circle is too tight and demand is simply not there.
There ought to be a correlation between starting investment and (starting?) market cap. 21 BTC -> $100M or $50M(atm)
WTH is that?
This is not a critique of NXT per se, but rather of PoS.