I think we definitely need to come up with a solution that would help us fight spam and censorship(flag abuse) at the same time. I don't think increasing the downvote power is gonna help solve either of these problems. It would probably only increase the abuse of flag. Generally speaking however, the system seems to be designed in such a way that there's no equality of voice. Basically, the more money you have, the more influence you're going to have in the platform as you can buy more STEEM and power up. I'm not sure if a system like that can thrive as it's not something new. It's just fashioned up with a different look and feel!
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What's new about it is that's it's blockchain based, trust-less, open and transparent.
If you consider that there has not yet been a reliably way to enforce 1 human = 1 cryptographic entity I think steem is the best we have so far.
It is true.
Some people do not appreciate or like the line of questioning on these types of issues, and it tends to show the character of people good or bad.