Well this is not STEEM and it isn't exactly the same. They already changed it to where newly powered up HIVE isn't able to vote on witnesses for a period of time, which was set up to prevent exactly what happened with steem. Besides that, there are a number of changes that could readily be made to improve the protocol which seems like it would benefit everyone here a heck of a lot more than building something entirely new that eventually will compete with this protocol...