Hah, you manage to invalidate your own argument in the very same paragraph.

Steem's proposed value to the external universe where money comes from is that it should support the production of content that people want to consume. If "high quality content" is "content which contributes to Steem" then there's no external value and no reason for anyone outside to want any.

If you believe that producing content that people want to consume is the best way to attract money then by all means vote for it. Personally, I believe that some such content does so, but not all, and I believe that some contributions bring value apart from (what is traditionally known as) producing content. Where our votes align, the rewards paid will be the greatest, where they don't, rewards will be smaller.