The whales are part of the problems, but there are only a few of them. The thousands of regular Hivers can be doing stuff to help matters. No system is perfect, but we can try to make it better. Too many people are waiting for others to fix it.
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We can't necessarily do much about how the whales act, but that does not mean our efforts are worthless. We have rogue whale ranchorelaxo/haejin trolling Hive and have to live with that. Other whales are trying to deal with the very real abuse of the platform. But people are imperfect and will have feuds that spoil the party. Remember that we have less downvotes than upvotes and so the overall effects ought to be positive.
when all the newbz GTFO, the whales will be stuck with a pile of worthless tokens
A lot depends on how the rest of us treat newbies. Very few will get noticed by a whale, but they could still be made welcome.