The early Steem distribution model will hurt this platform for a very long time.
With the SMT protocol rolling out soon that will be a mute point. New steemit-like apps with their own token distributions will be possible.
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we'll see how the SMT's work and if they are picked up and used. I'm still uncertain as to how the SMT tokens and the Steem tokens will be used together. Can the SMTs basically set their own inflation, voting power, etc? Will the Steem token only be needed in a very small # of use cases now?
SMTs can be configured to have their own inflation, reward distribution rules, etc and can be set to ignore Steem Power of the accounts and only use the vests in SMTs to determine reward allocation. The last point is the reason why the current steem power distribution will be a mute point.
I can see existing steem apps issuing their own tokens (busy, chainbb, dtube, utopian, zappl, etc). Of course the success of these and other projects will depend on the growth that they can obtain outside of the Steem ecosystem which also applies on platforms that launch on other blockchains.