This is all ego. I know VCs that love giving away "co-founder" titles because they can often get away with giving less equity in exchange for the title.
I'd sooner be called "janitor" and receive fair share than have a title and less.
But your point is depressingly common, especially with the Rocket Internet CEOs/co-founders who receive less than 5% for anything the Samwer Brothers try cloning.
