Great points, certainly lived through that with Steem & covered it extensively on The Steeming Pile.
An interesting philosophical conundrum always comes up on a macro level when dealing with weight staked voting. There's an inherent centralization that comes with voting power which can easily be corrupted resulting into a plutocracy of whales
Agreed, though one would assume they would want the best for the network if not simply for their own finances. Justin Sun tanked Steem