My personal opinion about the Steem and Steemit (I'm not educated in economy, this is only my logic, it can be very wrong):

• STEEM/SBD is some coin used to reward the content on some blogging platform or some video platform

What is the value of such coin? There are two options:

• Blogging/Video platform is the shit. The shitiest form of shit (spam, low quality, inappropriate content... ). What is the value of a coin that can be used to generate more shit? I think 0 $
• Blogging platform is great! There are good posts, maybe the best that could be found on the internet. The community is strong and it's growing. The platform is addictive and all the members are active while having a good fun. I want to have such a coin! How much for it? Maybe 10 $?

No matter how rare something is, if it's pointless - it's worthless. I have a uniquely broken piece of wood in my garden. There is not a single one like that one, in the whole world. How much would you pay for it?
And there is a Ferrari. There are thousands of them. How much would you pay for a Ferrari?

The only things that could add some value to Steem(it) are:

• users, many active users that can't live without the steem(it). And they would come if the rewarding system is honest. Thank you curators. Thank you miners/ whales who delegate the power
• good, quality posts that educate, entertain, inform people. It will bring more people to join
• developers that create new, even better ways to use the idea of Steem(it)

How paid votes contribute to this - I don't know. I simply don't understand.