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I think you're missing some context on the difference between CPUs and ASICs in terms of PoW algo design and hardware cost&distribution.

Again with monero because it's pertinent to your point, I would encourage you to read up on its design goals, and the discussions around the recent PoW algo change on github or Reddit.

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Monero changing its mining algorithm doesn't change how most of the supply was produced and given away nearly for free to the dev team and early users.

The math behind it equates to existing capital wealth being used to generate the supply which is amplified by several magnitude for the first users to show up and run the software. Future production costs increase, and the relative newly produced supply decreases.

Old users rely on the gullibility of new users to exchange real world value for these easy to produce database-tokens.

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