How eventual is eventual?
I don't see it past 100M in the near future. I was kind of excited when I first read about it, but once understanding it a bit more, I'm not so sure. It's like a super crowd funded VC, but it won't have access to the groundbreaking companies that real VCs have access to, nor the expertise real VCs have.
It may end up making money, but I don't think it'll be a super success.
Wisdom of the crowd > any expert in the world.
Then, if you suppose that slock.it can achieve what it is supposed to, you will probably get big rewards only with it. But this story success could attract other good project.
Second point is obviously in the best story case
The problem isn't the "wisdom" part. It's the other parts. VCs don't just pick companies, give them money and watch the dough come in. They are active in helping the start up go in the right direction, connecting the start up with other influential people that will benefit them, and lots of other things.
With this DAO, you won't have any of that.
And again, in the first place, you need to have promising companies apply for DAO funding. Why would the next facebook or uber or airbnb use DAO over traditional VCs that they know they can trust? Would they really reveal all their plans to potentially tens of thousands of people or even more, just to try to get funded? I don't think so.
The quality of start-ups applying for DAO funding will almost definitely be significantly lower than the quality of start-ups a top VC can get their hands on.
