...If the majority deem it appropriate they can violate the property rights of the minority...
This would be true, except that by buying into a DAC that allows such dilution, you are voluntarily surrendering ultimate ownership of your property to the majority shareholders. Personally I'm rather averse to doing that, but I don't think it's a violation of property rights unless force/fraud are involved in the buy in.
Since there is no mining there is no such thing as a premine. Instead of dilution just set aside a percentage of the shares for developers just like Mastercoin did. It is working best under the Mastercoin model. The dilution model is speculative and likely will upset investors while not accomplishing any more than the Mastercoin pre-allocation model,
Pre-allocate your shares for development costs in terms of a percentage or raise transaction fees. No dilutions no bullshit.
Or even preallocate shares to an AGS style fund, allowing ongoing contributions concurrent with development, which provides the benefit of a solid metric of current market approval and optimism.