That was quite helpful. A few thoughts. When you discuss a person proposing an idea and having it voted on, it sounds great, but what we see on steemit is that it is actually very difficult to get posts noticed, even if they are high quality, unless you have a lot of vests (or befriend those with lots of vests). The end result is, in essence, rule by the powerful few. Of course you can argue that they have invested the most and should have the most say, but they may not always have the best ideas, and they may not always vote in ways that are best for community in the long term, opting instead to vote for what is best for themselves in the short term. Do you have any idea on how DACs could address this issue?
Second, my hypothesis (and I will be looking at data to try to write a longer post on this) is that it is getting harder and harder for people to live a decent life today, because producing enough value for a decent life is requiring one or more skills that are at the upper end of the distribution. For example, if you look at the set of human skills, then create a distribution of people for each skill, many will be middling, with much fewer at the high end. Due to technological disruption, providing value to make a decent living requires people to have skills farther and farther on the high end of the distributions--way above the average human for that skill. But humans have not evolved as fast as technology, so most humans will have skills that are largely average. Can DAC's address this issue, or will DACs just make it worse? Consider the complexity of facebook (upvote at will and post what you want) vs. Steemit (with a PhD in computer science it is practically impossible for me to figure out how the rules really work). DACs may make it even worse for average people. I don't think our society can survive if it continues to leave average people behind economically. Look what has happened with Brexit and the last US election. People are upset, don't understand the causes of the problem, so just vote for radical change without understanding the implications.
Great comment @toddrjohnson
Of course DACs don't fix everything wrong with Steem network at this time..
Ned has proposed some ideas, with Oracles that help the network run smoothly, but also weed out bad actors and bots. Also Communities (think sub-reddits) fix much of what you speak of (silo-ed content).
Steemit is an experiment; it needs Hivemind and other components to be a completed design, and it's just one possible "version of many" and different ways to "present" the Steem blockchain.
" rule by the powerful few" - it's experimental and it's being invented at this time, still.. by some really amazing people, I must say.
Check out Kent at eossandiego on youtube, and see what he has to say about his new Challenge app. It's on EOS, but it could be on Steem too; it might be better on steem but who knows..
I think of EOS as more Enterprise computing apps, and Steem as social media replacement. EOS can do multi-sig contracts (think estate planning) and has more to prove in the next year. Steem is solid and is ready for any number of better presentations to the public, once a few more pieces are put in place.