Very good analysis. It actually put some of my thoughts into words. Your conclusions are even similar to mine.
You also found one more issue with merger I didn't think about (i goted for ut too because I like their collaborative spirit).
I differ on decentraland by impactin. It is definitely a wild card idea and problematic with the ability to ruin it built in. But there is a rule 9 which allows a two thirds majority to change rules. The issue of it not really having a structure remains. I don't see it as unfeasible i see it as needs improvement and a little more centralization. Different kinds of voting rights would solve it. Maybe 2 or 3 levels.

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