Is it me or do I sense some fear here? This is the second post I've read today dedicated mostly to the woes of flagging. What you are saying is that there is a balance issue here, and seemingly nobody has put forth a way to solve the imbalance.
Whales 100% have the ability to swing their sword, to fully censor if they want and there is no moderators to stop them. It truly is Power in the purest sense of the word.
With our steem power we can hopefully minimize the damage a Murphy's Law type incident might bring with it.
So you believe that it is inevitable. There should be more than hope to solve and survive the fallout that you purport to come someday. Flawed is the word that's currently ringing in my ears.
RE: Hanging onto Steem Power is about a lot more than wealth accumulation. It is also about the future of the steem blockchain.