How is it still OK?
The reward and ranking system based on the vote amount was to rank posts so the 'cream' I.e high quality content would go to the top of hash tags so that it would encourage traffic to the site and new content creators and repeat

The current practice as it always has drives users who join the platform away after a short time and looks like a joke vs any other "content" site if you could say that.

Unless you think all those posts on trending by devs and witnesses have visitors thinking how talented they are and consider investing to support? Imo doubhtful
Take the user retention 1.3 mill accounts, 12k that make transactions daily being overly fair say all are unique is 6%, after 4 years don't see how those are good figures not discounting alt accounts bots and autos