Voting power exhaustion is a matter of percentages. A whale still has more power after 40 votes than a minnow.
Also, whales do not need to vote with max power on each vote. They can give partial votes. The user interface just hasn't adapted to it yet.
My brain knows that those kind of perfection are coming but at the same time Steem is already so perfect that it has a hard time seeing those coming.
Nice... hopefully that will increase whale voting without overthinking how much they give out...
No arguing with that logic :) @dan