Wealth concentration is a big problem when it delineates who is a tastemaker on a social media platform. It's not like STINC selected a bunch of people who had an eye for how to spot social media trends or anything to receive the first batch of STEEM in the premine.
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I see that more as a problem with content discovery than with wealth distribution, which is why I'm hopeful Hivemind will fix this specific concern as will SMTs which allow for fine-tuned control of who participates in the rewards pool via SMT Oracles.
As for "tastemaker," is that really your lived experience here? I rarely look at the trending page. I'm mostly engaging with my followers and people I follow.
Maybe it's more a problem with new people who show up and see crap content on trending because of Steem Power votes from people who don't spend time curating quality content which might be interesting or valuable to investors. I don't think we'll ever see rich investors spending all their time curating. Maybe they'll delegate to curation services and earn rewards that way. If curation rewards were increased, as many are suggesting we should do, that might help. The problem there is those without Steem Power who don't really earn much curation now anyway would complain even louder about the wealth distribution issue and the whales getting even more of the rewards through their curation.
No, what the whales want to see does not dictate just what content gets seen on the trending or hot pages, but also creates incentives among other users to create material that is suitable to their primary target audience, which is going to be other supporters with high vested amounts of SP and not just ordinary people who might stroll in from outside of steemit, you know, the kind of stuff that might actually see the platform grow in user numbers. The problem is, in a dpos system where most of the wealth has been distributed, and future wealth's distribution is determined by existing stakeholders, those new eyeballs don't really mean shit so no one catered to them in earnest.