You are spot on! Not necessarily about the currency, but the system as a whole. Steemit doesn't work like a regular economy where the people at the top are not rewarding those at the bottom. In Steemit, it's about growing the economy by redistributing wealth. While the jury is out as to how this will scale were there to be millions of people, we will see. Certainly there will be a ceiling at one point.
I have been working on a post for the last 2 weeks which will display this phenomenon in action with hard data. Coming this weekend.
look forward to read it then !
I'd be very interested to see your post too, I see Steemit working in just the same unfair way that most economies do, 'those that have, get'. The whales get fatter feeding on the minnows and as long as there are plenty of minnows foolishly purchasing steem power in the hope of making money somebody will get rich but it ain't gonna be one of us.
The whales are loosing 10% inflation rate per year. As 10 percent of total newly created steem is distributed as rewards to content creators and curators. And whales holding steem power receive 90% of a 100% inflated steem supply. The eventual winners are not the whales, but the bloggers. The annual 10% net currency creation outflow goes to them, so there is an incentive to create quality content. And quality will then be the dominating force of steemit. Hopefully ridding bad contents, subjective propaganda, and manipulative media.
If steemit's concept works, it might be one of the most revolutionary concepts.. :)
All I can say is, you'll be surprised.