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RE: What is wrong with Steemit rewards system?
I absolutely agree with you on upside potential. At the same time to point out potential problems and have a discussion is healthy. There is always room for improvement. I just hope issues like this don't discourage average authors from putting in hard work for quality content. In a long run quality content will play a role in upside of Steem as a whole.
Indeed, you make some good points, but we also need to signal to new users that they are taking part in bootstrapping an experimental social media platform and monetary policy on to a new powerful blockchain infrastructure. Payouts are not guaranteed. Hell, STEEM could be back at 10 cents in a few weeks. No one knows. This is still the wild west.