What Is the Main Drawback of Simple Token-Weighted Voting in a DAO?

The main drawback is plutocracy, or governance by the wealthy. Since one token equals one vote, entities holding a large percentage of the tokens can easily dominate the voting process.

This concentration of power leads to decisions that may only benefit the largest holders, potentially at the expense of the broader community and the long-term health of the protocol. It is the least decentralized form of on-chain governance.