[nijynot]

What use is equity if the company never goes public or never gets acquired?

Tokens can on the other hand have value even if none the above happens, and you get a liquid market much earlier. If the monetary policy of the token is reasonable, and the market cap shoots up for one reason or another in the future, you'd make a big buck.

But would you make any money on your equity of the market cap of the token would go up? Not necessarily.