Agreed. After digging in, I'm no longer bullish on $Steem in the long run. Most of the whales have no interest in the platform. They seem to be waiting to cash out. Others abuse the system.
One point no one makes is about the effect whales have on witness voting. Witness votes don't expire which means witnesses can stay in the Top 20 without having to be active in the community.
On that note, I believe that @jerrybanfield is sincere. I think you're wrong to question that.