It's called account-based voting. Content will be valued according to the amounts of up-voters and not stake.
This could mean they people will try to get as many accounts as possible or use these worthless bots that are giving 100’s of Upvoted worth few cents. I saw recently posts with 100 or more upvotes and few cents in owerall rewards. It has its pluses and minuses and until it’s put in practice we can’t tell if it’s better or not. With SMT’s, Steem will definitely raise in its value. It’s logic, growth automatically expends in price as well.