It also so happens that the early users just so happen to be developers themselves, and hold a Yes, you can achieve the same with crowdfunding/crowdsale - but

It also so happens that the early users just so happen to be developers themselves, and hold a Yes, you can achieve the same with crowdfunding/crowdsale - but then you have a corporation and regulations, and the pesky anti-dilutive and other protections of minority shareholders and so on. Governance token should be just called what it is - equity.