Didn't realise you were a programmer too, but yes - you are spot on.

To me this reveals, at the very least, a weakness in the Steem blockchain's operation going forward in the near-term. This weakness is the development team...

I don't think there is a way to sugar coat this. You have to admit there is a problem before there is any hope to fix it and I am seeing a lot of denial and defence from the cheer squad. This is my biggest concern.