boiled down it is simple, if you (we) don't believe that a majority is able to make meaningful decisions, based on common sense we are doomed anyway, no matter what tech we are inventing/using.
stating that a blockchain should be always immutable is an indicator for the need to pass/deny decisions/responsibilty to another kind of centralized leadership, in this case, the swap to the blockchain.
i will stop here, because i don't want to derail this thread but i am very interested how this social experiment will evolve over time and if people understand they can't have both.
I agree with you. I believe you also agree that "centralized leadership" means fundamentally different things when applied to a blockchain or a central bank? One should also not forget that participation is voluntary.
As an aside you might or might not be interested in, majority as a function on boolean vectors returning a boolean also has a number of algebraic properties that make it interesting. In short, imagine you had a number of agents, voting yes/no for some arbitrary binary question. You need to construct a family of functions (from {0,1}^n for all n, to {0,1}) to aggregate votes into a group decision. You can practically invent any function you want. For example, a full dictatorship would be a family of projections f(x1, x2, ...) = x1 which always choose whatever x1 chose. Majority is another such family of functions. It has the advantages that is symmetrical in agents (each agent contributes in the exact same way a priori of other votes), symmetrical in range(*) (labeling all yes to no and vice versa does not change the function in any way), monotonic (changing any votes from yes to no cannot change a no outcome to a yes outcome), and some other more abstract properties. It is also interesting that from a computational complexity point of view, it is a counter-intuitively
complex function to compute. One of the most celebrated results is that it is not in class AC0 (more or less the simplest computation class that people are interested in -
http://en.wikipedia.org/wiki/AC0).
(*) this is not always desirable, and you can use super-majority in that case