A few issues, and they may not be issues unless the loopholes are being exploited. This post was intended to give people a pause for thought. It may not all be "free money". Lets ask ourselves what are the consequences of the current situation?
The 50:50 rule no longer really applies! Just think when the dollar vigilante posted his post for 14k dollars way back when. That meant he could only cash out 7k dollars immediately (which was real money) and he kept a stake in the platform that worth 7k dollars. This is a huge incentive to keep an interest in the perpetuation of the platform.
The fact that you can game the system via bots and delegation to extract value from the system means value is being drained via the daily reward pool (speaking from a long term economic perspective). This is not a problem if people are keeping the SBD bonanza in the system by buying Steem or even better powering it up but I know of many instances where people are just converting the posts bonanza to Fiat. This means there is less value left in the pot for the remaining Steem holders. SBD circulation is not huge but it does have a draining effect which is hard to quantify.
The last point I would make is when someone is making money someone is losing money, its a zero sum game. Who is losing the money here? There is speculation that it is naive traders, which I hope is the case. I hope it's not naive new users to Steemit, or investors who don't fully understand what is happening and get turned off Steemit as a result of a bad experience.