I think this is really a great idea with a well thought architecture. The problem is that the ones with steem power have too much power and original content do not get through unless they are liked by the big guys. While steem value is growing up, it does not seem to represent its true value. Imagine when most user have joined in. like in a pyramid scheme, the last one will have no steem power and with the current price they will have no way to get enough steem power. They would have no influence whatsoever. The only way they end up with steem power would be to have the steem value fall and be affordable to anyone. In my opinion this is what is going to happen. The alternative is that steemit decide to redistribute the steem power to a more equal footing or change the algorithm so that user with no steem power have more influence.One thing though is that steemit have done lots of things right. In steem there is no tx fee and this is something ethereum should try to achieve too. Moreover, it is quite fun and a good concept. People seem to like it and I think it is one of the first blockchain projects that actually has a fair chance at attracting interest from non-crypto/finance folks.It doesn't have anywhere near the depth or developer community of Ethereum though. We'll see where this goes, good thing we have tickets in the first row!
