Sorry for the late reply. I don't use steem that often anymore.

Delegation is a problem for a couple of reasons. It is not the worst of problems and it doesn't have to be a problem. It just has the potential to be a problem.

Here is why...

There is only so much steem and reward pool flowing into the platform.

The goal of the platform was to have curators move the good content upwards. At least that was the stated idea.

To do this ideally you want as many ACTUAL curators as possible voting on things.

Delegation in the long run is not much different from running a bot with one exception. Bot owners still get rewarded for bot activity. The result of consolidating more power into a few hands (bot owners, or heavily delegation backed) who then dictate the curation.

Likewise, bot authors simply use delegation to immediately power up new bot accounts.

I do see it's value for reasons that have arisen due to the power imbalance, bots, etc.

If there is someone you like that is being attacked by the powerful or by bots then the reaction was to delegate them some power so they can weather those attacks.

If the attacks did not exist that wouldn't be needed.

Delegation was also useful for onboarding new users to avoid having steem currency tied up in accounts that go dormant.

The sad thing is that most POSITIVE ideas can also be gamed to be NEGATIVE. Some people accumulated such power early on (some before the social media aspect even launched) that they immediately unbalanced the idea of decentralization.

There are some flaws though that make decentralization a pipe dream in many areas anyway.

However, essentially my thoughts against delegation are simply the idea that curation should be done by actual people, not by people they delegated their power to.

Though really. I suspect it is far too late for that.

Forking the chain and building something new that somehow can discourage the power consolidation would be the likely only solution, but I don't know how that can be accomplished.

As to EOS. I have some EOS myself. Dan Larmier and I used to talk about these things. He saw a lot of the problems but, he hadn't been able to determine a way to stop some of the negatives that wouldn't open the door to new ways to game the system. Neither could I.

I for quite some time wanted to remove the down vote, and flag completely. Yet with decentralization it really is the only way to fight spam, plagiarism, etc.

EDIT: The bulk of my remaining steem power is delegated. Why? Purely reaction to negative events. Delegated to groups actively working against such events. Also to a few sub-accounts which I will likely stop delegating to, I just haven't gotten around to it.