It already exists without crypto tokens and it's called a referendum.
Different countries use it to different extents. The Swiss Country does a lot of it, for example.
But referendums are not always a good idea and are extremely prone to manipulation by the media and populism (see Brexit). Minorities are also underrepresented in referendums, which poses a real problem with these things.
Having an elected government with separation of power is definitely always better, than whatever DAOs are doing.
pretty sure it's about the subtitles of the meme missing (it's free real estate)