This is how all of nature works. When a complex, adaptive system is left to sort itself out, it will. But it takes time. Of course you will have extremely powerful individuals in a new environment that they build. But over time, power and wealth will disperse, and you don't need a central hand to achieve that dispersion.
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We are certainly going through a period of price discovery, and painful distribution. $70m market cap. It's not all doom and gloom. I expect further pressure on price over the coming months, however once we hit 90% Steem Power to Steem, Power Downs will begin to fall, and I expect a level of support to come into the Market, as less Liquid Steem is produced per week..
Up 19% today, but off a very low base and with BTC weakening.