Wow, awesome post. :-)

While I agree with you completely, although, in a moderately less well-articulated manner, I do not feel that the ethos of steemIT runs counter to your point.

Rather, I think that the current state of this decentralisation of "steem power" is an inevitable result of the system just getting started.

The concept of power distributed by contribution to the community seems sound to me, and, this was my perception of what SteemIT is trying to achieve, however, it is difficult to get to that point when you have a group of people who had a massive head start by being very early adopters. (Much like capitalism I guess.)

AndThis

"Theoretically George Soros could invest a few million and start creating and upvoting posts promoting globalism and child sacrifice and he would do well simply because he's rich!"

Which, while hilarious, is too true and throws a huge spanner in the works.

Is however, what I think will drive the value of the coin and thus the incentive for contribution, let's just hope it happens in a more benign fashion though. :-)

While you are too right about the current state of power centralisation, my hope is that it evens out as the system matures.

Thanks for the share man, it was a very stimulating read.

Now take my minnow steem power. :-)