However, I'm not sure how projects like @utopian-io and other open-source projects would function without delegation being there...
They would function just like other projects that have functioned on Steem/Steemit without delegation for the past year and a half. They can provide updates with posts, receive donations from those who want to support them, have other accounts trail their votes, buy STEEM to power up...there are many options.
I know that delegation can be good, but it unfortunately creates far too much "bad" in an environment that does not include enough people willing to counter the "bad." So if the community as a whole proves to be inadequate in mitigating the "bad," then revert to prior protocols that didn't allow the avenue for abuse/exploitation/whatever you want to call it, then find a new/better solution...if there truly is a problem that needs to be resolved in the first place.
For every bit of good that delegation may do when given to good curators, we get two or more situations like this - and the latter seems to be increasing.
https://steemit.com/steem/@transisto/whales-witnesses-we-have-to-talk
I see, it makes sense that a delegation market would pressure the price of STEEM downwards :(
Pretty sad because delegation really helped lots of users earn a 'voice' and especially helped projects function much better, but if we have to reorganize for the better of STEEM in the future (long-term), so be it.
If the delegators would research into the project they are delegating to then this would be a start.
Upvotes/Downvotes on a delegations list each week? Auto cancelled if community sides that way?