I actually agree with this sentiment. However, from this point on it would be a free market for Bitshares wallets. That means that people can choose which wallet they want to use, and they can choose which term of service they are ok with. Furthermore, the risk of donors not to get their money back would most likely be too great.
Not to mention that instead of asking for delegate money upfront we almost completely developed the wallet with our own money and then put forth the proposal to the community.
I think you guys should just apply for the delegates, no funding phase. 4 delegates, one for each developer. If you are confident that your wallet will increase the BTS market cap, then this will pay for itself. No need to offload your risk to the shareholders, you already committed to take on the risk when you committed months to developing this.
As recently discussed on the last mumble session, the most successful delegate pattern has been:
1. Engage the community, build connections
2. Do work, ask nothing in return
3. Gain shareholder confidence with your demonstrated abilities
4. After everybody sees you are passionate about bitshares and are competent, post a delegate bid
Your proposal is uncomfortable and feels hostile because you are holding your work hostage. On top of this, you have the intention to unnaturally get voted in through hard-coded delegates, which also gives the feeling that you are not confident enough in your own abilities and/or the future of bitshares.