The current premise is that, by locally monitoring factors, such as the MAC and IP address a user is connected to, we can prevent others signing onto the same device. Essentially, one account may be accessed via multiple devices, however, only one account may be accessed per device. In theory, this should minimise the incentive to create multiple accounts, as there is presently no explicit way to circumvent the issue.

Why can't someone spoof their MAC/IP address? Or even easier, buy two devices?

Without a shop that trades this currency for "victuals, medicine, and residency" you only have a currency that is guaranteed to have inflation. I guess the inflation hits harder on accounts with lots of money but it seems the real purchasing power is not moving that much at each renumeration.

How is getting a larger share by providing more silicon compatible with the goal of  "equitably and unequivocally distributed"?

The fundamentals are not there (yet).

Essentially, one account may be accessed via multiple devices, however, only one account may be accessed per device. In theory, this should minimise the incentive to create multiple accounts

I don't see how exactly would this discourage me from buying 100 devices and creating 100 accounts.