What we have here is a, "First-World Problem." It's a whole lot like a Third-World Problem - except you're not starving. So, while everyone frets over the current issue, lets not forget that these types of problems are very good types of problems to have, as opposed to other types of problems...

While the majority of this conversation in above my pay-grade, I did see one very important statement in the OP:

"...This could be a decentralized system for account creation. Otherwise you're allowing a handful of web developers to have access to account creation..."

The issue seems to be, how to balance the power that comes with the ability to create new accounts with the power to regulate new account creation, thereby maintaining the integrity of the SteemIt platform and preventing unintended consequences and loopholes that might allow that power to be abused and used in unscrupulous ways. And, that is a mouthfull.

Take that mouthfull, and imagine what a nightmare it is for code-writers to impliment rules, in computer code, which carry that out successfully. (I believe this is why we have hard-forks? The underlying blockchain code/rules are being "tweaked" to best carry out these policies?)

Now, just take a step back from all of what I just said, and lets' look at the bigger picture. What we have here is a group of private individuals who are engaged in nothing less than the creation of our own form of money, currency, and market for exchanges of value. This is truly an exciting thing, because the current "masters of the universe," the central/globalist banksters are probably $#!tting in their pants right now, trying to figure out ways to stop us.

Here, I want to encourage everyone who understands these issues, and is diligently working on addressing these issues to be greatly encouraged in their work. It is no small task. In a real way, these are the people who could be rememberd as the true "freedom fighters," on the side of freedom and humanity, who are working so hard to free the planet from debt-slavery.

As a minnow myself, I recognize the importance of what is taking place here. This is why I would recommend to every minnow and SteemIt user out there, buy Steem, buy cryptos, invest in this freedom movement now - before it gets crushed by external influences and big money. Every citizen of the world needs to put some "skin in the game," perk up, pay attention, and get involved here.