From what I understand, you are correct in what Steem/Steemit is, and how funds and power are distributed. You are probably also correct in your statements why it was distributed as it was, as well as how this is generally the case with any other virtual/crypto currency.

It isn't realistic to expect people to dig through a mountain of past posts to understand what STEEM is today.
t would be great to be able to point to sections of a document (e.g. an updated WhitePaper) and frame conversations about the platform accordingly. Hopefully this will be addressed soon.

Fully agree. I would add to your suggestions, a section within Steemit with notice board, knowledge area with facts and a more structured implementation of communication/discussions on topics concerning Steemit and Steem, maybe some (community) moderated forum with (forced) categories per topic.