Possibly also depends on circumstances. With my current role playing group where we've been playing on and off together for 20 plus years across various systems and winnowed out the couple of people who didn't suit the overall group (one as a player, the other as both player and DM) we tend to switch who is DM and who are players as we enter new campaigns, and so we all as a group happily discuss what house rules we think we want, with no one person having veto power as such. We all know each other and know we can trust that people arent trying to take advantage or the like, so dont have the sort of issues given in prior examples. If we somehow ended up with our player taking the limelight, we would all discuss as a group and adjust.
Now, it did take some time to get to that point, and in early years yes tended to need to rely on veto as such especially while those other two players were still around, but that had changed over time.
It may be a matter of preference,.but I think circumstances may also help dictate what will and won't work.