The economic system(POS) that ensures there be an Oligarchy is the issue and is why after 7 years steem now Hive only has a handful of active users. It's this oligarchy that allows HW to exist and a few that control the platform. Note that if Hive actually blows up the rewards pool will significantly thin out taking a huge chink of earnings out of their pockets, so they aren't really interested in that happening. Let that sink in...
Also note that there are many other POS projects where Oligarchies aren't the result, so it doesn't need to be this way. The powers that be will never willingly give up that power, which is why improvements that are needed will never happen.
The smartest comment in this thread! They created a community with a claim to decentralization, then they introduced centralized regulation there. And for 7 years they have been discussing what exactly could have gone wrong😜
Exactly!
Exactly! The Oligarchy of Stake.