Top 50 Holders of EOS control 94% of the total supply

A few days ago I made a post about Dogecoin and the fact 66% of the supply is controlled by the top 100 addresses. Well I continued to do some digging into other cryptocurrencies and found that 94% of all EOS is owned by the top 50 addresses.

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https://preview.redd.it/rmc9qqhekhva1.png?width=381&format=png&auto=webp&s=8899d4d196c77c4f9d3acd9e0eb814e4d21d6b0a

After seeing these numbers I did some more research and found this issue was brought to light 5 years ago on the EOS subreddit in this post and this article when the situation wasn't nearly as bad and the supply was smaller.

Total Supply 5 Years Ago: 1,000,000,000 EOS Tokens | Total Today: 1,153,534,963 EOS Tokens (Supply increased 15.35%)

At that time of that post the top 100 holders had around 75% of the supply and 5 later the top 10 addresses alone have more than that. These are the top 10 addresses today:

1. eosio.stake | 253215017 EOS | 21.95% of supply
2. eosupbitcold | 156399705 EOS | 13.56% of supply
3. binancecold2 | 81967940 EOS | 7.11% of supply
4. eosio.fund | 68277906 EOS | 5.92% of supply
5. j4obibe5lfv1 | 64885405 EOS | 5.62% of supply
6. b1 | 64672348 EOS | 5.61% of supply
7. okbtothemoon | 61139288 EOS | 5.30% of supply
8. eosio.rex | 59021990 EOS | 5.12% of supply
9. wlqdprkffody | 36073985 EOS | 3.13% of supply
10. kjhbgvcfghfd | 27249789 EOS | 2.36% of supply

Though tbf the top holder with a little over a 5th of the supply seems to be a staking wallet.

To all the EOS investors, does this concern you? If you aren't invest in EOS and you saw this would you consider this a red flag? Personally have never invested in EOS but this would be a red flag in my book. The fact that such a small number of addresses control such a large % concerns me.

Source 1 | Source 2