I don't think economic equality is as important as social equality. I really don't care how much more digits exist in a person's account than in mine, I care that we're equals within society. There is no harm to one person being able to buy a yacht while another can't, but there is harm when one person has more influence over what laws and regulations can exist than another.

The issue Steem has is that it creates social inequality. Most blockchains are not economically equal, but socially they are. On cryptotwitter I can have a conversation with someone that might have many more bitcoins than me, but we're just two guys with opposing opinions in the end. On Steem, this is not true.

Powering up your STEEM is actually dangerous, because people can downvote you. Downvoting people does in essence cause you to lose money, because in a blockchain that is constantly inflating the only way to not lose network share is to keep earning STEEM at the same rate as everyone else. So, when a person with more SP than you decides to put you on their auto downvote list you will be losing the value in your account every day.

Might makes right on Steem, which is a reason that it does not appear at this time to be a very good investment.