no one has the monetary incentive to vote other's content, except maybe whales.
Its not only that. As a new user i feel my vote is actually worth nothing. Also the bots seem to be a part of the system since i see them in almost every post i check.
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" As a new user i feel my vote is actually worth nothing."
This is exactly as it should be.
That's the most capitalistic part about Steemit. In a capitalistic model, One needs capital investment to start a venture. The more you invest, the more your upvote will be. That's why everything on the blockchain is called a "vest". You can invest money directly to get that vote power now, or you can invest your time and energy and build your way up.
From what I've gathered so far, the bots act like auto brokers for placing your content in a stock market like bid for the curation reward. They are actually pretty useful, especially if your only capital investment is like $500 USD or so, and you want to make that start earning something right away. They can also be abused, as @berniesanders and others have been pointing out. Unfortunately, if you don't have much to invest in Steemit, whether that be money, or lots professional style content, then Steemit is not a place that will work well for you; or at least that's the hope. In truth, people have found lots of ways to make Steemit work for them without any initial investment or providing any quality content. Many whales fear this is devaluing Steem, and hence hurting their capital investments.
Many of the biggest sp holders on Steemit started with nothing. They were made dolphins by whales, in the early months, when there were far less users. Some of them created good content and some of them didn't. Some of them created schemes that purported to support minnows, but they basically embezzled by up voting themselves with the borrowed power. (This was before delegation was implemented.) My point here is that many of them invested less time and effort than people with a fraction of their sp.
Most cryptos are mined by miners who all have the same hash rate (difficulty), but here mining is done by creating content and everyone's hash rate is different. Quality of content is supposed to equal less difficulty, but the social aspect of Steemit means that this is not always the case.
The quality of content only matters in so far that it draws people in, so that the site becomes a social media hub, so the level of shit-posting is actually irrelevant as long as there are sufficient quality posts to draw people in and keep them here. Think about it, FB is a successful site and it's full of people talking crap and posting crap.
The only way to improve Steemit is to increase the number of dolphins so that there is more competition for the established dolphins, in particular the ones who shit-post.