A well written post and the points made mirror my experience as a 111 day Steemit noob. It is no wonder that Steemit has not reached mainstream adoption. From the Steemit 1-Year Anniversary posts, it becomes clear that less than 10% of new Steemians last beyond a year. What this means is that Steem based tokens will face a challenge to grow in value over time unless the broken and corrupt model is fixed.