very good analysis! I'm very impressed for sure! That is both insightful and enjoyable to read @curatorcat. I don't know your background, but I can tell you have some serious analytical skills and the understanding of how things work. I do agree the bots are a manifestation of the bigger issues, and I think you hit the nail on the head about the early adopters. That is why I think we are destined for a big "reset", because in my experience that is how the system will purge the excesses. I was talking with a friend of mine that go in early and he was telling me that he could buy all the steem he wanted at $0.19... ps... I would love that as we would be able to get some leverage here if we could buy in that cheap!

Its nice meeting you and glad you are entering the Play 4 a Newbie Challenge too... I look forward to being your teammate in the future!