It would probably be up a lot more if it weren't for all the liquid rewards going to the same people getting the curation rewards. Steem is becoming more centralised instead of less. It's a scam to say that any content creator (who gets their rewards locked up) can profit from this unsustainable system.
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That's a reflection of early distribution on the platform. That has to do with the fact that 93% of the steem exists in the hands of less than 0.1% of the people on the platform. It's been my chief complaint since the beginning. My current suggestion is to keep platform inflation at 10% and do that for several years to spread it out over more people.
Yes I know it was a chief complaint. But before these bid bots and vote selling bots and lease delegations came out (scamming people into believing the buyers make money from them) the distribution was spreading outward. Good hard work that added value to the network was getting rewarded so stake did not matter. The major stake holders were powering down and redistributing the wealth. They don't have to do that now. They can just keep riding it till the wheels fall off.
The main thing that will change distribution on the platform is inflation into new posts. That's currently going down a little bit every day because it's set in a hardfork. I think it should be 10% and remain there. I put that in a @minnowsupport post about changes to steemit within the last week to get at the root cause of one of your major concerns.
The second is vote buying. Again, I fought these rules. But they are here. Ironically not using vote buying right now on good posts encourages shit posters. So, if you think you make good content you should be using them otherwise the shitposters that use them will have less competition and more to gain.