I have said this before in the past but in my opinion the best way to fix the current issues is with limited/free anonymous downvoting.

The majority of humans by nature do not like conflict, most humans try to avoid conflict. The current down voting system on the STEEM blockchain creates conflict and has a monetary cost.

The majority of users are not willing to downvote anything because they fear retaliation and would rather upvote to earn rewards.

Make downvotes anonymous so no user, big or small has to fear any retaliation from the user they downvoted.

Make limited downvotes free or almost free, maybe 1 - 3 free downvotes every 24 hours, if you downvote more than it starts to cost voting power just like upvoting.

This change would increase downvote participation and also increase the value of good posts, because the value of downvotes would go to posts that have not been downvoted.

This proposal overall is ok, but just making downvotes free is not going to change human behavior when they still fear retaliation from users with more STEEM power.