Probably could have done without that first 5 years of running people off because they 'earn too much', or said something disturbing to the status quo.

This has played a part. I wouldnt say most times it has been unjustified but sometimes even justified reactions are costly reactions, if you get what I mean. Sometimes, and I can pinpoint a few examples, even if you are right, being right and doing damage is a fools victory.

Unless somebody comes out with a killer app to bring in new folks that haven't taken the time to do the math, it's a slow downward spiral to distribution, imo.
New users, new cycle, same problem.

But why build that on Hive? Thats the question needing an answer. Why would anyone build a killer app on Hive instead of Solana or Ethereum. The answer would not be of technical nature. The real answer would be: "Because Hive has your back, it will support your efforts and help your growth."
But does that happen? For anyone new on Hive, I would say almost never. Which is a problem ofc. For anyone established it can happen. But how far does that go? Can you establish anything on Hive that doesnt touch the blogging sphere?
Splinterlands did it, but it turned into a somewhat adjacent community, not seen by many as core.

Until then, we can continue to stumble around like the blind leading the blind, or we can facilitate power actually passing from the ninjamine era holders to the next generation.

I would disagree with that description and the symptoms you present. I would reject taking anything from anyone but would welcome action from everyone. On another note its not a realistic thing to expect someone giving their money to anyone. I mean you can always fork but the community follows the money. If blogging is core, upvotes come from those with stake, it cant come from those without. So the solution must be elsewhere.