Most whales aren't powering down and most whales are giving more than they are giving themselves or their mutual support meaning the power is being distributed away.
It's happening slowly but it's happening and as I've said in one of my previous post this distribution is almost inevitable or inevitable because of the way Steem is designed.
The initial distribution has been stated to have been done this way by Steemit Inc so as to help them create the platform they wanted to create. Note Steemit hasn't necessarily gone out of their way to invite people on the platform yet and might even have slowed down the subscriptions in the process helping those who are already on the platform.
Distribution is happening. The concentration of Steem was supposed to be even more concentrated according to Steemit plans but the mining phase lead to a relaunched that lead to a wider initial distribution.
People assume Steem are getting more concentrated at the top yet it's not the case. The best paid authors on Steem aren't the biggest whales. And the most powerful voters aren't the best paid authors either.
Power is trickling down on Steem. And the way witnesses will keep getting their support is by getting the widest amount of support.
If you think I said something erroneous let me know. I'm trying to be honest as most as I possibly can and people can look at who I am and what I try to accomplish here on Steem.