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?

Seeing that the originators of the project, and those receiving tokens, are locked up for a long time (at least one year, ideally 3+) is a good, basic indicator that the project is serious. A <1 year lockup is a big red flag.

CTO @a16zcrypto, lover of https://github.com/a16z/awesome-farcaster

depends on the scope of the project but 3 years seems abysmally short compared to the kinds of time horizons that base layer protocols like bitcoin and ethereum have for their roadmaps