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RE: I submitted my first hardfork pull request to the Steem blockchain! (Updates to the SBD print rate.)
I'd be in favor of something like what @lukestokes suggested even now. Bear in mind nothing about creating governance for the repo means that the bulk of the work and decisions wouldn't continue to be made by Steemit employees. Any sensible governance system would vest those authorities and responsibilities with people having the necessary skill, experience, and expertise, and for now that is Steemit employees.
Of course, setting up something like that is a big project, couldn't happen instantly, and would require one or more people to take it on as a significant effort.
We have a model we can follow with what the EOS community is doing. It is a big undertaking, but a worthwhile one as well. Ideally, it should be done by non-witnesses to be as neutral as possible. The EOS example is done by those who have committed to not being block producers. I don't they'll be auditors either. For it to work well, it should be as independent as possible. Like anything in this space, if it doesn't provide value, it will ultimately be forked/ignored.