This question appears simple and straight forward:
If minting a peershare is highly profitable, is there a large likelihood of opportunistic voters who just buy to mint and do not vote or participate in data feeds? If so, does that spell doom for the peershare?
An apathetic voting body could cause motions to take a long time to pass, or freeze the process all together. In theory, this will cause the price to drop, which will cause the opportunistic holders to sell, hopefully to people that are less apathetic. However, as the price goes back up again (I’m talking time scales like years), those same apathetic voters will again purchase and mint. This appears to cause something of a limit to both share price and efficiency of the voting process.
I am very interested to hear what others have to say about this hypothetical phenomenon.