You know what, you brought up a good point. I didn't know enough about how steem tokens are generated. I thought upvoting created new coins, but to my surprise, it just allocates created coins. As a result, there is a limit to how much people can have. If this guy is raping the reward pool, that means less for everyone else.
It is hard to trust whales to do all the balancing because many of them might not even care.
I'm actually curious to see how all of this will turn out.