Interesting thoughts, thanks. I don't think steem is failing because of the reward pool (at least not the idea of having one in general anyways), but it may be part of it. Overall, it is an interesting set up because the reward pool is what brings people in (and is also the major source of inflation/dilution), is it possible that perhaps the current model only works with a big enough user base, perhaps something in the millions or tens of millions? We never got to those levels to find out if that is indeed the case. I still think steem's potential is bigger with a reward pool, but we were yet to come anywhere close to realizing that potential for a whole host of reasons. While eliminating the reward pool would likely slow down the decline in prices, it may also put a cap on steem's potential user base size, to some degree.