A lot of the problems are to be expected with a new technology such as Steemit. There will be growing pains but this technology is strong and the potential is enormous.
Are some posts overvalued and are some undervalued - yes. Personally I think the solution to that would be more category structure. If people post quality content that they are genuinely interested in then it will naturally build the categories and users can focus on what they want to see. Sometimes categories are on the right side menu and sometimes they are not. I am not sure what the solution is to this but it may start bringing more organization to the massive amounts of posts coming in, some that are high quality and just get buried.
We don't want new users that have talent to get discouraged.
Ya, i think it's going to be difficult to avoid following reddit's trajectory, where a few popular subs squash out some really cool original stuff.
Exactly @tinyhomeliving - we do not want to discourage quality posts. I do think the value algorithm will evolve with time.