The current iteration was launched in November, 2014
That's wrong. Current feature-rich version you speak of was launched into production on October 15, 2015. 1st year was BitSharesX which ceased all operation on that same day.
I also believe your FBA concept is based on old information. It has only come to light within the last few months that the way FBAs work is not what was discussed in this community. FBAs were a
Eureka! moment of innovation and was an exciting concept when introduced. The primary implementer (Daniel Larimer) decided to alter the FBA design to prohibit the distribution of fees collected to the owners of the FBA token. When all this came to light I asked Daniel to explain. He said the idea of distribution of fees collected wouldn't scale and such assets fail the "Howie" test, a legal ruling made by courts in the U.S.A. to identify when an asset is a security in the eyes of the US gov. He instead changed it to some type of token buyback scheme and that was never documented or discussed publicly. He didn't even inform the investor for the work of this change, and that investor was surprised when he learned it was changed this way. Of the 4 people involved with the creation / management of the very first FBA, only Daniel Larimer knew of this change and he chose not to inform the community.
Although I consider Daniel to be a high-integrity type of person, he is only human and in this case his choice does not reflect a position of integrity.