Respectfully the text you’ve quoted proves my point. Particularly the following:
Onchain governance is interpreted quite broadly here, and most people familiar with governance outside of Cosmos (e.g., how Ethereum governance works) know that this is inclusive of node upgradeability to a designated binary. We’re not as used to that in Cosmos, but it’s absolutely applicable here.
Again, I respect your right to put this on chain, but if you intend to do so I would strongly recommend setting a higher initial cap of at least 5%, which has the same effect of preventing a single party’s on-chain vote power from exceeding 20% while being far less likely to have unintended negative impacts on the overall governance of the chain.