Hi, good analysis, and i've had many similar concerns until recently. But i believe with the announcement of Dawn 3.0 and the interblockchain-communication a lot has changed. Because this will allow a variety of governance structures to compete with each other. This should prevent a lock-up of the systems by whales, which is only possible in a monopoly situation, like the one Steemit currently still has. I've covered this in-depth in my most recent EOS post, in case you are interested.