One of the things I have figured out during my brief time here is that anything is possible. This is still an experiment so it might be worth a try. I just can't figure out what would stop a person from opening up many smaller accounts instead of one big one.
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Ha! You are right about that :) Well, we know that the majority of whales were willing to abstain from participating in voting for Abit's experiment. I don't think it's impossible that they would all agree to the cap. What is it that might keep present and future large holders of steem in one account? Reputation? Interest? Honour? ;) I don't know either...