If and when we get to 1 mil tokens sold then it also means 1 mil STEEM within the upvoters. Yes, the maths works - it is not a linear function but there is a parameter that balances VP and SP so that we can continue to deliver upvotes as stated.
Also, currently only 110,000 tokens on the market. I'm not going to just dump 1 million. With 1,000 tokens needed per 100% upvote, I hope that sales will be brisk.
The way SE shows token numbers can be misleading. It shows circulating equal to issued less burned, but issued tokens IMO are not circulating when they are still being held by the issuing account.