Provided developer interest in Steem continues to grows and future SMTs continue to favor Steem Power accumulation for dApps, there will naturally be more centralizaton of STEEM and I see nothing wrong with that. How that filters down accordingly will be through SMTs, which will serve to decentralize power accordingly through unique communities.

The problem of today is that Steem seems too dependent on Steemit to be viewed in any other context. Decentralized functionality found in dapps with unique tokens backed by Steem is what will make Steem far more useful as a reserve currency than in its current state.

Imagine a steemmonsters SMT that wields users increase benefits in the Steemmonsters universe. The success of that SMT will surely benefit all steem holders, but power itself is distributed more fairly because someone who has little interest in Steem and more interest in Steemmonsters can have more influence in the niche community absent of having meaningful influence in the world of Steem.