People go by what they heard: "If it seems too good to be true... well it isn't." They think steem is promising money for nothing. But it isn't. Any whale that buys steem expecting to get all their money back is a fool. And I doubt the whales are fools. What they will get is influence over a community - at a good value for their money. And the money "created" isn't made from thin air. It's made by the hard work of a building a community with valuable posts.
No one is getting free money.
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The value of posts has nothing to do with Steemit money creation, or the value of money created.
The value of money is largely a function of marketing , because most people don't care enough to make thorough analyses to quantify value when forming trading decisions. Btw a whale can get all his money back, really many options.