Hi mate,

For the price, agreed. But don't neglect the speculative part. Most tokens have crazy valuation with current no usecase. Factom is in production already.

The federated servers are here to process the blocks and keep the hash in the Factom Blockchain. They decided to have a limited number of dedicated servers for the simple reason that if Factom is successful, the average joe won't have the material to hold that much data. "After you hash your document..." After you hashed your document, you still need a decentralized system to hold your hash. To make it short, the federated servers both process the blocks and hold the data in a decentralized ledger.