I've just re-read the SMT's whitepaper and I must admit, I do struggle to see the innovations that are not combinations of what has come before. I'm simply not technically astute enough to see them if they are there. However, I couldn't care less if there is true innovation in the speculation of a whitepaper. What I do care about are the risks given the current state of the economics in Steem and the potential risks due to regulation.