Sorry, but I don't agree with you. First there is not possible comparison between steem and Bitcoin.
Bitcoin came to solve a lot of problems related with online transactions and it's value has been gained with real effort and big investment by their holders. And that is not the case for steem.
A crypto currency in order to be feasible and truthful should at least have the following features:
⚫ Must be totally decentralised and supported by a great anonymous community in order to be secure and transparent. Bitcoin have hundred of thousands miner around the world supporting the network. To make an attack is almost impossible or extremely costly. Steem have a bunch of witnesses that you must trust they will never collude 😨. Do you imagine if steem worth hundred of dollars how easy is to generate false data in the steem blockchain?
⚫ In the crypto currency world privacy is the uppermost feature. This is one of the reason because Bitcoin is worth its value. Steem have zero privacy and to top the community promote the verification of account with real names.
⚫ The crypto currency must have a niche to serve. In the case of Bitcoin is easy to spot: transfer value from A to B securely, fast and privately. In the case of Steem it seems to be give value to the content creators, and this is a genial idea. The reality is content creators are competing with boobs, dicks, and friends of the wealthier holders, to win few pennies. So is not serving it's purpose...
Steemit members are the only people who believe blindly in the steem. As it must be...
Value is gained with a lot of work and in the case of Steemit supporting the real good content creators. Too high percentage of rewards go to crappy content without any kind of benefits to the community. That is OK when your income comes from publicity, but that is not the case in Steemit.
The reputation system is a joke, a new account can reach the top with the vote of some of the richest holders, as well as for the selection of witnesses. Is so obvious manipulating everything that discourages even the most fervent believers in Steemit.
All this situation around Steemit impact the prices of the Steem, and the value tends to its real value of zero in the real world, where the steemers believers have no influence.
In conclusion, STEEM is the Most "Real" Crypto-Currency for Steemit believers. For the vast majority of the world connoisseurs of crypto currency the steem has not much value as is reflected by its price.
We are going to become simply in " bag holders" if 99% of the Steemit community continue having only 1% of the power to influence the future of this great idea, bad implemented and worst executed.
I agree that having that much power in the hands of so few, is never a good thing, but if I am not mistaken, it is part of the design that this dreadful imbalance is to become less of a factor over time. What we hope for is that the currently powerful use that power in a beneficial way, and I know that not all are. Instead of damning the design, which is imperfect of course but evolving, we should work on changing the behavior of the powerful, so more do the right thing.
And by "the right thing" I mean upvoting this post .. and as many as possible, all day everyday.