There is some merit to the idea, but the reality is that it’s a moot point: at worst case, I would have assumed that each individual member of the EC has only his or her own interests at heart and that the value of their property is the over-riding driver for any decisions made.
Even at best, an EC member, still having regard for the value of their own investment, simply understands that a well run strata scheme helps the value of that investment grow: this type usually makes fairer decisions.
Furthermore, each EC member is a volunteer – they needn’t declare a thing…a good Executive Committee (emphasis on the plural) will balance individual needs with those of the scheme when making decisions for the OC.