Yeah I'm kind of worried that in reality, though there isn't a 'structure' it will devolve into something worse than high school girls trying to get dates for prom

And the scale they're doing it on is also alarming, but I'm relatively new to the startup scene, so maybe I'm wrong

ALSO - They should look at the problems that Valve has had in the past with a "flat" structure

There are still 4 owners, just like before the changes. Still all the decisions about the company are made within tho whole team. Shareholders do not have any more decision power than the others.