that is a disingenuous way of framing it. by reading the stake holders concerns the issue is not the convert in value. but the lost investment opportunity many long term holders have been waiting for of stake going from a low cap gem to a mid or high cap. with this merge they lose out on that opportunity and go to being a high cap with no worth while return. most do not wish to trade their possible 100x return for a more reliable 10x, especially with the time and community investment put in. not to mention this vote dramatically reduces the stake they hold in the eco system they have been apart of, as the lose in percentage of the overall ecosystem (which is about 80% minimum) would in turn reduce their voting power and influence. so no, i completely disagree with your take and saying this is a bad deal to gno holders, especially as gno holders are really happy with this offer, is laughable.
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