Is Capturing Demand a Better Mechanism for Distributing Cryptocurrencies?

I think initially the way I thought about it was primarily that it was just a more fair mechanism for distribution because it created opportunities to participate kind of equally across time. And there are senses in which that is like sort of not not necessarily true in the long run, which I can talk about in a second. But over time, that kind of like capturing demand mechanism starts to get diluted a little bit.