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

Fake, if it is done rightfully it doesn't mean anything. Look at ARB, people keep using it although the token itself has no utility and when you ask them why they say "ARB was good to us so we return the favor" i have proof xd