I think some good ideas for improving governance processes have already been mentioned in this thread.
Personally, I am not inclined to favor either THV or its opposite. Each has both advantages and obvious disadvantages, and they also depend on the context of the system in which they are used.
For example, if a PoS blockchain had an initial TDE distribution, THV would be categorically unsuitable for it, because it would be a profanation. Fortunately, Zcash went through market distribution. Not so long ago, the market even saw a price close to the founders’ reward price, which gives reason to claim that every coin holder was on equal terms with others (which is not the case with TDE distribution). Therefore, I am not so concerned about the well-known shortcomings of THV for Zcash, as I fully support the rights of holders, provided that there is a voting system with equal access for all holders. Currently, it is not equally accessible. In addition, given that large holders such as DAT/funds/treasuries are in custodial storage, I make a reasonable assumption that we are not threatened by excessive influence on the voting results of interested parties.
The only aspect that really concerns me about THV in Zcash is the level of expertise. This is because the effectiveness of decision-making by a community of experts is much higher than the effectiveness of dry decisions made by a large group of people who will not even delve deeply enough into the issue they are voting on. At best, this will turn into a vote by influencers, whose opinions will be taken into account first. At worst, it will simply be an intuitive vote.
In a system as complex as Zcash, such voting could also lead to negative consequences, such as stagnation and destructive decisions, due to possible malicious FUD attacks/distortion of facts. This is because influencers may not necessarily be from the Zcash community and may not necessarily be sufficiently knowledgeable.
I also believe that if we can arrive at a solution that takes the best of both worlds, we could have the most effective governance system for Zcash.