Supply of STEEM is not as important as the reach of STEEM. The various governments fear Facebook creating a currency because of their 2 billion reach. Steem needs to reach more people, in other words, we need to get STEEM into more people's hands, not less. Burning STEEM means its in less people's hands.

Look at BAT, they are doing everything they can to get BAT into people's hands. They might eventually introduce burning, but they know it is way too early for that. You need mass adoption, then burning becomes a great tool.

Burning only makes sense for the sake of promotion. I agree with people that think we should merge the promoted area and trending and allow people to burn STEEM to increase visibility for their content.