Actually this has very little to do with BM being an "idiot" w/ 90% garbage ideas. He has spent quite a bit of time since the early days of bitcoin arguing that there are a few problems needing solved by cryptocurrency:
- Scalability
- Efficiency (tx speed/volume)
- Volatility
- Self-Governance
For scalability and efficiency he developed Delegated Proof of Stake (DPOS), which is used in the STEEM blockchain (thanks to the #bitshares community and @dan)
For volatility there are "smartcoins" that use prediction market mechanisms to peg to the value of various real world stocks, bonds, cryptos, currencies, commodities...etc
Self-Governance
It is possible with DPOS based chains for witnesses to be elected and kicked out of power within seconds should they be doing a bad job or a corrupt actor attempting to do something outside the benefit of the system. Generally 1 share/token = 1 vote...so those with more get more votes.
The design of steem has painstakingly been constructed after Dan learned many lessons in #bitshares. And I can tell you nowhere near 90% bad ideas come from that guy when it comes to crypto, at least...which is mostly what my experience comes from).
Some of this is still being tested, but it looks like @dan got it pretty dang close right out of the gates this time.
It'll take a minute of course, but indeed, I feel that @dan's concepts will ring true in the end here.