In the US, the top 1% owns 99% of wealth.
Misconception 4: Proof-of work-crypto is "socially just"
Let me start like this: There are two main ways to make money: work for it or turn money into more money by investing it. (I'm ignoring stealing, inheriting, etc.)
Working is something that, in general, everyone can do, and, in general, contributes something to society. People provide some service, produce something, or entertain others, and get money for it. Those who do it better tend to get more money.
Crypto falls into the second category. People who have some money can use it to make more money. In these systems people already who have more money find it easier to make even more money, and that's true for crypto too, with the exception of early adopters, who get a disproportionate part just for being "in the know". The other ways to get crypto are to buy it and, for proof-of-work, to mine it.
I'd be surprised if the division of wealth in crypto isn't much worse than in society at large. The early adopter crowd is a very tiny part of the population to begin with. Those who buy crypto will be a little worse in terms of division than money in the general population, because crypto is high risk, and so more fitting for those with money to spare.
Mining seems to be even worse. Regardless of the risk involved, people need to have a computer with a decent GPU. That's already not trivial. When crypto isn't profitable, such hardware would seem like a waste of money for those who struggle to put money on the table. When crypto is profitable, GPU become pricey and hard to get, so only those with money and spare time (or connections) can get them.
That's because a handful of people do most of the mining. They have connections with the OEMs or distributors, and get large bunches of hardware for their farms, which they run at a big profit at locations with low electricity costs. So people with money make most of the money.
Even if you exclude farms (and mining viruses), all mined crypto does is give lazy geeks a way to make more money. That doesn't help one bit in providing a more just division of wealth. Geeks can usually already get more money than a lot of others. Want something that's really more socially just? Support basic income