Saw that as well and was going to post something on it basically to say what you've just said. Looks like a Crypto ponzi scheme with fake fan involvement.
Some Arsenal fans will lap this up, especially if you are into the crypto scene and digital engagement. Looks fine as a bit of fun if the price is cheap and that's your bag. Please, please, don't anyone spend any real money on this though. At least before waiting some time to see how it all pans out. And don't mistake it for a serious attempt at fan-led oversight of the football club either. It's not that at all.
Edit - reading the article, and maybe this is a bit harsh... More like a cynical cash grab maybe, probably quite harmless...
There are so many individual actions that you can highlight to summarize the putrid state of this club. Vinai gets duped by a fake company, humiliating himself and the club and gets a promotion. Edu pretty clearly is money laundering and keeps his job. Arteta alienates 2 of our best young talents, loses one of the best keepers in the league, breaks every negative record for a manager in our history and plays the worst football that we've seen in a generation resulting in the lowest position in a generation and retains a job. Each one of those would be grim. All 3 simultaneously being given free reign to make decisions with ramifications lasting years and you genuinely fear for us but cannot be confused as to why we're collapsing. This is easily the worst run club in the PL. I think we make Newcastle blush in terms of sheer dysfunction.