I have been thinking about that... earning royalties for the individual that would be great, but for the platform it would be terrible. (As I understand the reward mechanism)
If the reward pool is going to be divided up amongst ever more content (Last 7 days + old content) the fraction of rewards for new authors would probably diminish next to nothing over time.
That kills all incentives to add new content (why would you bother if you are already earning tons from "royalties" tempting to sit back and relax right ?)
As a result the inherent value of steemit stops growing and with it the perception that it is valuable.
New authors would see ever diminishing returns and there would come a point where the hype "get paid to post" in practice stops being true.
It is still early days, we are on a great trajectory, 5% a week will get us to over 50 MILLION users in LESS than 1000 days (because math)
Anything that even shaves growth in the slightest can mean the difference of becoming the next Facebook or turning into Geocities or intellectconnect.com (who? right...! )
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Growth hasn't even started yet in earnest. It should accelerate soon. Regarding royalties for longer term content, perhaps another Steem-powered site or one run on a side chain (eventually) could focus on that.
don't be fooled the last few months has been consistently over 5% a WEEK. That's all it takes ! Check out the old link here (ironically way over 7 days hehe https://steemit.com/steem/@the-traveller/why-you-still-are-massively-underestimating-steemit-com-exponential-functions-you-probably-don-t-really-understand-them)