Good points, and I almost agree on everything, but I think the 20% cut on author rewards is probably too high and I think it would be better to start with 5% or 10% and see how everything plays out. Authors are also very important for the Steem(it) ecosystem because they are creating amazing content and can bring their network to Steemit.
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I think starting with a lower cut first to see how things play out is a real option.
You know what? I just realized that bidbots account for ~30% of author rewards. Plus you guys get curation rewards too.
Let's just have bidbots fund development entirely. That way we don't decrease incentive to create content, and I am confident you will pay close attention to how you spend your stake on development. Let's put that to a vote, shall we?
I second the motion @valued-customer!!
Get ready @Dpoll, because here we go!!