You describe above Trickle-down economics, which is notoriously flawed and almost never works as it promises, but I'm too lazy to debate such a complex thing.

But I wanted to point out that it's not just about the markets that is not unique, but even the design and functionality issues that we assume are basic things that they should just get right if they're more than 4 years old.

Look at Facebook, one of the biggest entities on the planet, yet to this day I still can't scroll through my chat history without the scrollbar whipping me 20 miles up or down in a random direction. I still can't smoothly view videos, which take at least 2 clicks to go full screen. I still have trouble in a plethora of ways to make Facebook function smoothly, and that's with hundreds of billions of dollars backing them.

So yeah steemit.com is basically a disgrace and there's no decent excuse for it, but certainly not unique, either