Yes, you are correct.
The ninjamine is still blowing out the balance of the math, I agree.
But, the only way past this hill is over it.
Or, succumb.
I'd like to see the n2 come back, that can only happen when enough stake is on both sides to keep the balance from getting blown out as you describe.
The n2, and better curation, could come back if 'the whales' respected a vote cap, but greedy folks gotta greed.
Well, you have to be able to discern the different viewpoints.
The viewpoint of the people that created this platform for us to complain about their 'mismanagement' on is that they need to get paid for creating the platform.
The viewpoint of the earliest adopters is that they need to get paid for making the early days a success.
These are not viewpoints that can be invalidated because one doesn't share them.
These dominant viewpoints can't change until the political power in the hive spreads out some more.
That only happens if people power up moar hive.