Excellent post with a lot of information; however, what do you think about the current model of Steemit (here, I am referring to the problems arising from upvoting / promoting content which is senseless)?

In my opinion, the long-term prospects of Steemit would be very hampered because these bots / automated voting algorithms are essentially stripping content producers from the ability to earn profits... it would appear that very few people actually read the articles... now you just enter those bots and you vote and upvote with complete disregard to the content. In the long-term, I doubt Steemit can match its idea / goal if this keeps going.

Note, I remember there was another website (Bubblews or something of the sort) which failed based on the same key mistake. We (the authors) would form groups (analogous to the automated voting) and we would just upvote each other and promote our articles for quick profits. However, that meant no original content. I do hope they fix this.