I do not think they are able to control the system this way. First with buying such a huge steak they will increase the value of all other steemians. But also flagging does not delete a post, it just takes it off the trending category when downvotes are higher than upvotes. And seeing the steemit community, steemians notice these pattern and authors still have a voice outside steemit to raise the issue.
I do not think it is possible to control platforms on top of steemit so easily.
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