I think you need to separate a few things here.
Users
Investors
SMT
Tons of minnows interacting with eachother causes the Alexa Site Ranking to go higher. Which shows up more in search results. Minnows and people with almost 0 steempower add a lot of value in views/shares/word of mouth to interest more people to come into steemit. What if you had almost no minnows and everyone was just a small dolphin up to a whale? Do you think any investors want to come to this platform and see a bunch of dolphins and whales upvoting eachother for absurd amounts of money?
Investors, who and what do they want? heh. I think a supar majority of the whales/dolphins/minnows here have never bought any steem, so I think this is more of a thing to focus on for the future.
Which leads into SMTs, this is what investors are going to come here for. Looking at how successful fund raising is for ERC20 tokens on Ethereum blockchain, that is what investors do/care about. I don't think that you can have any kind of success with SMTs if you only have a few thousand dolphins/whales on this platform(vs millions of minnows).
I would take millions of minnows all day everyday over a few thousand dolphins/whales. Investors would to. A few thousand people don't make steemit(or the steem blockchain), they just earn the majority of rewards.
I hope my reasoning makes sense in this regard. Just trying to say that investors won't care about a platform that doesn't have millionws or tens of millions of users(minnows). Minnows are largely users and they won't ever earn much, but they still have a lot of value in many other ways.