I've come to the conclusion that coin distribution is pretty much the same problem as stock valuation. You try to anticipate the worth of the cryptocurrency (stock) then put it out on the open market (stock exchange) at that value. If you undervalued the coin then it will fall in value, and vice versa.
That would mean 100% premine and potentially the creators would become stupendously wealthy, but I can't think of any mechanism that is more just than that. Everyone has a chance to buy, and everyone pays the competitive price.
If we apply that analogy to distribution by mining, what sense does it make to award stock to some arbitrary participant? For example, awarding McDonald's stock to construction companies every time they build a McDonalds. That's not dissimilar to how Bitcoin was distributed.
At the end of the day, there is no magical way to distribute coins evenly among some arbitrary number of people in the world.