Because some people foolishly believed in Ned's good faith as a founder, bought into his continuous stream of empty promises, and others frankly were benefiting from the delegations and preferred to take the route of self-enrichment. That's a pattern that has played out over and over, but it doesn't mean that taking firm action to stop the misuse of the stake and general screwing over of the stakeholders and community at various different junctures wouldn't have been the right decision then, nor that it isn't now.