RE: Steem, Democracy, and Modern-Day Capitalism

Oligarchy is a form of power structure in which power rests with a small number of people. These people may be distinguished by nobility, wealth, education or corporate,

Steem is an oligarchy...

It is not in it's code to operate any other way.
Oligarchies in free markets stifle growth.

Capitalism and free markets can be synonymous - but not always (as we see in the western government controlled 'free market capitalism'. And oligarchies)