If I'm interpreting this right, then "light accounts" are essentially just wallet addresses which represent an interface to the blockchain – but the implication is that they won't be able to do significant transactions.

The immediate and obvious problem is that every transaction that is useful and interacts with the blockchain requires the ability to write to the blockchain, and if you can write to the blockchain as a user, you're a full user.

Unless this system of account differentiation is a backdoor way of pushing access restriction algorithms into the blockchain itself, which goes against a lot of the basic premises of the Steem blockchain, I don't see how we can have two classes of users with one having a username and one without. As it stands, the username is just another data field associated with what's effectively a wallet entry, so the idea of "light accounts" in the architecture that's currently implemented is actively nonsensical.

Like so many of the Steemit Inc. press releases, this is ambitious in ideas of those ideas themselves don't make a lot of sense.

Much like this obsession with the idea that Communities and SMTs are somehow interlinked and entwined when they are very distinct conceptual and interface underpinnings, this amount of handwaving in public is the very opposite of reassuring.