I do like the idea of a referral system, but ONLY one in which any rewards are paid once someone is an actual active and participating member. Otherwise it will just be gamed and abused.
That said... part of a referral system would have to include the ability to actually tell WHO signed up as our referrals. Not for money's sake, but so we could make the effort to encourage and follow those we talked into joining Steemit.
see the rewarding recruitment via active mentor method in my reply to Roe