The above practice is analogous to the government refusing to impose modest regulations on the actions of an oligopoly, which results in the oligopoly imposing many restrictions on what citizens can and cannot do, and acting unfairly in the process. It is nearly impossible to rid the oligopoly of its power, due in large part to high barriers to entry. While on the other hand, if the government were to impose modest regulations unfairly, voters could vote the government out of power.
It's not like that at all. What you're proposing would put all decisions into the hands of one individual - theymos, and that doesn't seem to be something he wants. Nor is he elected in any way so if the community doesn't like his decisions - SOL. On the other hand, the current system is based on voting and the community has a lot of influence on how DT is formed.
Perhaps you'd have more success if you actually exposed the "massive regulation by a select few who are accountable to no one" using facts and not some cockamamie theories. Simple math shows that this mythical group would need more than "few" of the ~80 DT1 members to have any sort of control.