That this will soon be addressed is a very good thing for Steemit.
Some of it will be addressed, but that does not change the fact that high SP holders are in the follow list of high SP holders and they vote for each other, like being on the same level in the pyramid. I never analysed things, but most of the high SP holders are day one users, so logically they form their community and the larger the community gets the more difficult will it get to become part of their community. It is like with you and your friends, the more you have to less change for someone else to become part of your friends group. The new high SP holders I think also get direct attention by the existing large SP holders, they have something in common, namely high SP. Somehow I think like in real life kind stick to kind in terms of value and money. That can never be solved by Steemit Inc or the community, that will be like it is, like in real life, when we do not want government to control eg size of company, income of C-level or something, than they go out of hand like in the USA, 1 person earning 2 Billion a year, and millions who cannot buy their groceries.
What this imbalance will do for Steemit, that is the question. I have my doom scenarios as well, but it may also be little less doom. I think being on Steemit should not be about money to start with, since when that is the only reason to be here, then you will quickly leave the platform. Look at my posts and rewards, some are ok for the time spend, but most of them gives me rewards I could not even pay a quarter cup of coffee from. And then I'm not talking about the time I spend on Steemit.
Time will tell what will happen with Steemit. Recently a lot of new users came to the platform, also some old users started becoming active again. I think that is because of the potential rewards due to Steem price being far up by now. How ling this will take, and how many will drop the ball, only time will tell.
I suspect that a system in which the speech of some is always, regardless of the content of that speech, going to receive higher monetary rewards is conceptually flawed at best, and reminiscent of the theory of the divine right of kings.
I am not saying that they can't have the wealth they possess. I am saying that the wealth of a speaker does not inherently impart value to the content of their speech, and that insofar as Steemit does value speech in this way, it is inherently unjust, and will drive the creation of a competitor that is inherently just.
If Steemit fails due to being outcompeted by another platform, whales will kill the golden goose to retain their wealth, and Steemit will fail. Even if no whale removes their wealth from Steemit in that case, Steemit will fail, and the whale will lose their wealth.
This latter scenario is unlikely. The former is highly likely, even certain, unless Steemit is so configured to allow users to value speech according to the inherent value they find in it, regardless of the wealth of the speaker.
Thanks for your substantive and considered response!
Time will tell what will happen with steemit and steem. Conpetitors are in the making already.