What are some properties that a token launch should have for you to consider it ethical / values-aligned and not decrease your excitement for the project?

>50% supply circulating when transferable 
<33% total supply to insiders (team, investors, partners, MMs etc.)
Bias distribution towards known (pseudonymous fine) contributors and users, over random airdrop farmers with arbitrary distribution criteria

Reality, typical launch today- 10% circulating supply, 50% insiders

I sincerely believe that having a small supply at tge is not necessarily a problem.
The token allows the project to bootstrap and have better KPIs.