RE: What is content quality? //💭My thoughts💭//
Well no... Steem is a platform with set ideals that doesnt act in any significant way to realize them.
What you are seeing here is not the beauty of the Free market. What you are seeing here is the complete opposite. There is no perfection in anything and that fact doesnt have "free market" as an exception.
The market should never be absolutely "free" or unregulated, as this has the potential to destroy competition, leads to monopolies, oligopolies, failure to acknowledge intrinsic values of projects and products where transactions are made to profit from short term fluctuations in price, like we are seeing happen in the crypto market.
"Free market" going by its most purest form is not a good thing. Like with everything in life a balance needs to exist.
Steem doesnt regulate itself. Far from it. Those with most money have the power to regulate Steem, but regulation comes at a cost even for them so many refuse to do it.
The incentives are broken here.
You might assume that high stake holders want that, but it has been shown even here, that many are concerned with only short term profits.
We are actually at a point where a platform that was supposed to not have a political system in place outside the witnesses that are chosen, is creating its own political system in the background. A system very reminiscent of Plutocracy. We arent there yet, nor do i think Ned will allow it. No witness, as long as the top 20 are community builders and developers will refuse positive change if it hurts the short term gains of the wealthy.
The first thing I think you are getting wrong is that there currently is a system to gain massive wealth easy and that's not the case. It's running on thin margins of profit. And it will only get more competitive.
Yes ideally I get what you say that those with power can influence Steem if they want. But I think most humans are kind hearted so when you empower humans they will strive to do amazing things. That is what I'm seeing. Also this place is run by people so if anything crazy happens it always get's called out fast. So it does regulate itself.
Is the system magical? Perhaps not but it's 10x better than the old system that was used in the world. And that is what people should be focusing on. The free market works better than other systems used in the world. May look at rough on the outside but it's way better than other systems. Risks always exist. Since life itself is risky.
Exactly. Free market is superior to all other systems, but its faults need to be kept in check and avoided if possible.