Thanks Winny! The explanation around the similarities to MLM is super helpful. Like you said, it is MLM in a sense - and so is every currency because it only has value if we agree that it has value and are willing to exchange our work (work which other people value) for the currency.
I suppose I'm curious to see if and when the majority of value creation stops being self referential. Meaning when people start earning more from non-Steem related content. Right now it almost reminds me of our financial markets, where money is creating more money through a really difficult to understand process. But I could be way off cause this still makes my head spin ;-)