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With this you are maybe right. But you dont know how many would downvote haejin if they had no fear and just downvote without talking.
For me its overvalued so i can downvote with good reason.
Haejin tends to overdownvote others, because he thinks downvoting is an "attack". But we figuring out value, at least i think that.

I really understand your point, I used to think the same myself, but in time I realized that very few bigger accounts will really risk their reputation and money, in order to downvote him. Most of them are interested in their own profits, and profits are made when one upvotes and not the other way around. And regarding the number of people that want to downvote haejin, it is not a that big number, and they do not have the needed SP. He and rancho have combined over 2 millions Steem Power. I really tend to believe that all the minnows do not have that much SP combined. To me it seems more of a lost fight, as I said, but I may be wrong also