This is true. For me the key difference is that when Patreon demonetizes you, that's it, that's the end of the story on their platform. You can't be monetized there. On Steem, when a whale downvotes, that is one whale of many. If another whale or a large enough group (once the stake is distributed widely enough) counters that, then it can be reversed in practice. It just requires a culture that values protecting speech from retaliation, even if it's highly offensive/controversial/etc.
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Yeah, very true. Thanks for the thoughtful responses, this is exactly the type of discussion I was hoping to have when I made this video 🙂