RE: Why is it important to follow and upvote small accounts? - The key to a healthy community growth.
I agree with you for the most part.
Just to be clear, I've never asked for a follow-back and have only announced that I've followed someone maybe four or five times out of the 120+ accounts that I follow. As @anomadsoul said in reply to my comment to him, what I'm implying is: "it is like an unspoken agreement as long as both accounts keep posting quality content."
I don't simply go around upvoting and following everyone that uses those keywords and then ask them to return the favor. Rather, I find the authors who produce quality content for those keywords and try to develop the type of relationship with them in which we can essentially build off of each other's contributions and/or compliment/ reinforce them with our own style/ input. In other words, the type of relationship which is mutually beneficial, in which both parties grow.
So, while I will comment, upvote and follow certain individuals with the agenda in mind to help my own following (account) grow (acting in self-interest), it's not without real intention to also help that person's account, and the community itself, to grow. I want the keyword to grow and everybody who focuses their blog on it.