Seems dodgy to me. A small handful of people owning that many coins before it's even out? "Coin for the people"? Hmmm looks like a get rick quick scheme and Bill Stil has fallen for it through his naivete with crypto currency
Maybe Im wrong tho
Nxt seems dodgy as well but perhaps worse in some respect considering, iirc, 70 people hold all of the billion coins or however many there are and the only way to get them is to buy them off this 'elite'
I think the thing you are missing with Nxt is that EVERYONE had to pay to get in on the coin. There was no "pre-mining" and the forum originated here on this board. The creator put in 1 BTC of his own money to get part of the genesis block. Every early investor was capped at 1 BTC to invest. All new investors can invest as much as they want. If you invested in the first week, you would have got 1M Nxt for 1 BTC after it was officially released, which has gone down to 100k for 1 BTC currently. The early investors invested in a coin that wasn't even released and was just "supposed" to be released. That was a huge risk for them in doing so.
It's like buying any new cryptocurrency early, you take a huge risk. Also you are forgetting that the only way to mine coins is to to hold a share of the coins. Instead of the dependency on ASICs, GPUs, CPUs, etc. You can run the client on any computer that handles Java and it mines as well as mining on a high end computer using the same client, since all that matters is the amount of Nxt you hold.
This is not a coin where you "mine" to get new coins in blocks. You "mine"(forge/get interest) coins that were part of transaction fees that were part of other transactions between other trades. Same thing happens with any cryptocurrency (the transaction fee) once the creation of new coins ends.