I think you are right, but only as far as you go. The costs in RC to transact are real and actual, but are worth it. In other words, not only do transactions have a cost, but they add value as well.

A problem I am but dimly perceiving presently is that the RC reckons the costs upfront, but the value is left to the open market to price. There is an assumption that markets are rational, and people that make that assumption are stark, raving mad. Markets are filthy, dirty things where violation is far more common than rational pricing.

Not that I'm competent to suggest anything better than markets, btw. I'm just noting that there is going to be a dichotomy between pricing RCs and the value of the benefits produced by those using the RCs. I'm actually a pretty big fan of markets (but I'm a poor judge of character) as long as there are mechanisms in place to preclude all the dirty violations that reprehensible thieves and scammers undertake.

@andrarchy will feel it right in the wallet if this place becomes a ghost town, make no mistake. No one will feel more pain than whales rolling in Steem if that sad future comes to pass. Perhaps this threat will finally galvanize whales to act to promote the interests of the hoi polloi, rather than reveling in their individual ROIs and their superiority over the little people. Sure, I'm being both unreasonable and unfair to many of them with that little dig, but I reckon them I'm slighting will get my point anyway.

The bare fact is comments are the actual lifesblood of Steem. If good comments aren't adequately rewarded to cause them to be produced, the market for Steem will be diminished. Maybe RC delegations can do something about this. I'm too stupid to parse whether that can happen, but I don't think good comments have been adequately valued as a rule in the past, and this despite some comments being highly valued.

Many of us, myself included, have noted that comments have been the main source of rewards during our rise to minnowhood, and I suspect that this is partly why retention has been challenging, as good comments aren't average, and average people are average, by definition. I think average comments may need more recognition going forward in the new paradigm of RCs, or we'll be relegated to an elitist backwater, bereft of the busy commerce and posts of normal folks.

Don't think we'll like that, if it happens.

Thanks!