I don't see why we could not have hive fund delegations if we really wanted to do the development (I'm not exactly in favor for it but hey why not).

Just have a part of the hive tokens be powered up on the sps account, and then add a new kind of proposals where you ask for sp delegations instead of daily HBD. And then do the same system where if you no longer have enough support you lose your delegation.

The system I explain above would work much better as a decentralized community than when we had steemit delegations because we can be more agile and reasons are more clear than when it was behind closed doors.