The only reason this is profitable is because of whales supporting the system. Whithout the big delegators who are loosing income this system could not function at all.
So instead of applauding the idea you should be applauding the whales who support the system.
And in essence this is a friendship system. The big boys have the big friends have the big upvotes. And yes in theory you could rise on the ladder but to be frank it would take you ages.
I believe this system can have a diffrent effect in the end. Bigger fish might not add you as a friend because they don't want to share there UA with plankton.
As i predicted the moment i saw the returns of the big delegators, the delegations towards steem-ua are dropping. From the 450k it is now down to 340k. That is a drop of 100k+.
Understandable as most people on steem are here to make some money and create great content while doing so. They neglected the fact that delegators want to earn something. They like to support great ideas aswell but if the profit is reduced by 80% they go somewhere else.
Good points
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And then I wonder why a creator of the system only delegates 250 himself when he has much more? He asks people to delegate as much as possible yet only delegates 250 out of his 599 (not counting the liquid steem he has). If he only had 599 I could maybe understand. But he has 2000 delegated to him.
Well if I would create a system and want to promote it I would delegate practicily everything I could.