I think, Steemit is one of the few places that operate as a meritocracy. You can buy your way in, but the door will open for you without the exchange of hard currency.
I joined three months ago. I never gave anyone a penny. I was familiar with one person, with one account, that was largely inactive. That person, knowing I loved to write and explore new ideas, recommended I try Steemit. Since then, I have been helped by Steemians I never met and have no connection to. They liked my work and generously reached out to me.
Certainly, I have invested--my time and interest. But I never used coin and I never used influence. I may be naive, but so far this has been a rewarding experience. And it's free.
Of course Steemit does not offer a level playing field. There are those who have enormous influence, relative to me and other Steemians. But I don't concern myself with what they have--I look at what I might get. There's a real possibility I might make some money, and without investing a penny.
I think of all the time some invest in FB, without any material reward. I think of all the time I've personally spent on Twitter, with the only incentive of having an audience. Steemit offers the audience and the possibility of making money. It offers something else: the chance to engage meaningfully with people who share my interests.
You're right, @whatageek, Steemit's distinct virtue is that it offers opportunity and it doesn't require a hard currency investment. I'm already working on my next piece.