A much needed analysis of the risks we have today as a community, thank you Vinay. New offerings like Tezos appear to mitigate part of the risks you outline through endogenous governance i.e. baked into the protocol. But Tezos won’t solve problems, like Ponzi schemes.
Socially-driven, decentralised, exogenous governance to smart contracts is required. I’ve often wondered if the co-operative model is one that could be useful as a basis in forming exogenous governance structures. The Rochdale principles ( https://en.wikipedia.org/wiki/Rochdale_Principles) in part seemed to have survived time and somewhat successful, but question remains if they can scale and be effective for this particular use case — a mission I am personally vested in.