this is not accurate;

Every user on Steemit is given a small amount of Steem (Steem Power) when they join the site. That Steem is created from thin air, much like the Federal Reserve of the United States keeps "printing money" to cover our debts.

it's not being created out of thin air, it comes from the steemit account; it already exists, it's not being created when somebody signs up, it's being reallocated; big difference!