Giving people votes should reflect the effort they put in to get that content online, in that sense I think in the long run people with low quality content will give up seeing as they wont be rewarded as much as they hoped to be. Only to be followed by new groups of low quality spammers unfortunately...this seems to be the same as the whole cryptomarket where people who come in for a quick buck get nervous and leave after a small dump, and new people come in with the next pump
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Unfortunately that cycle will be a (hopefully marginalized) constant minority in the steemit ecosystem. Part of the learning curve and filtering process I guess...
The positive thing though is that after each low the next high will most likely be even higher
Absolutely. These are the innumerable little mistakes that help us gain experience and wisdom for those huge leaps of success!