I understand your point, my only problem with the current system is its adding way more inflation.
Lets say we don't have bots, then only few posts will get upvoted, which in turn will mean lesser number of steem will be distributed hence lower inflation. Due to current system, lot more steem tokens are getting added into circulation which is hurting steem price. We need a way to burn steem token somehow.
Burning is accomplished by sending coins to @null.
That's not correct. The inflation rate of STEEM is on a fixed schedule and will continue on that schedule regardless of how many upvotes are cast.
Thats something i did not know. I will have to study more to understand economics of steem then. Thanks for your reply.