Exactly how I treat this. A blogging platform that happens to have money attached to it. I find people I like here and continue to interact with them, and I'm fine. The fact of the matter is, there are still a ton of things being rewarded that would not have been rewarded in any other system, good and bad together.

Now about where the money goes, I'm perfectly happy at a default if we can spread STEEM to as many participants as possible to bootstrap the eventual economy. I venture a guess that content will not be a major component in the grand scheme of things but it will have supported communities that do reward that stuff. And that will just be whichever way the stakeholders are making use of it. Yes it really sucks that right now they passively funnel into their own pockets but that's not everyone at least. There are so many initiatives blooming where stake is allocated to things that increase the value of steem (see: dapps curation, at least some of it anyway). In this bootstrap phase, I'm happy to identify people that are active and helping growth and setting up auto votes to spread it around.

But anyway, I didn't answer your initial question. No, I do not like graveyard passive post farming. But that includes long form posts too, if you have someone that dumps long beautiful posts and never responds to comments. And there are short posts that generate a ton of back and forth buzz that I would approve of. So in some sense, it is why you hear people say content is not so relevant.