I can't dispute anything that you say - the investor / blogger relationship is one which was vitally important when I joined - both were required for success. Now the relationship is heavily weighted towards the Investor at the expense of the blogger.

The reference to Steemit essentially reacting to "market forces" is true. Steemit has become what its users have made it. Similar to the way in which a new industry (e.g. social media like Facebook, etc.) regulates itself. i.e. self-regulating. But... if an industry fails to regulate itself appropriately (e.g. Facebook again), then legislation is imposed by governments (i.e. Steemit Inc) to ensure that industries behave within some bounds that ensure its of benefit to the wider society.

At some point, this "legislation" will be required on Steemit if the blogging element is to survive. The STEEM token will live on irrespective of what happens to the blogging side of things. Unless it's decided to "let anarchy rule".