I wouldn't call the current system failed, it is working as it was meant to, what you guys should be looking into, if you truly want to help content creators is a way to control bid bots so worth content can get the visibility it deserves., not taking part of the rewards from hard working creators. Like I said before, creators are the people who add value to a platform, without them, a platform is as good as dead, there wouldn't be need for curators them. And the thing is, the so called high stakeholders you guys are trying to bring out to be involved in the platform, most of them hardly curate or sell votes, which ultimately I feel is not their sole purpose to be on the Steem Blockchain, Majority are just silent investors waiting for the right time to take profits probably.
Increased engagement and earnings for creators is just a speculation, it might or might not work.. Too big a risk, not worth it.