I agree that transparency is valuable. Unfortunately, it is making the fight against misuse harder. Maybe we need a more creative way to solve this problem. Otherwise, this problem is crippling the whole system. Low-quality content is being rewarded more than high-quality content. I am sure Steem was not designed to do that.
BTW, I have just read a post by @heavey about a new ICO that is similar to Steem. It is called Red Pulse. They have devised some solutions to guarantee high-quality content. Maybe, we should check them out.
I don't think that transparency is the problem. The problem is that almost everyone is here to make money and as usual willing to compromise honesty, integrity, fairness etc to get a piece of the pie.
I am sure there is already a solution that exists to deal with this and I feel the solution is just that this community curates content they feel is valuable and flags stuff that isn't. Guilds/groups are the way to go.
If a lowly wimpy minnow or plankton finds flag worthy content they can just report it to the group and the group with all the power can do the down voting if the warning meats criteria.
Its actually very simple, then the entire community becomes the security camera that sees EVERYTHING and the whales become the enforcement. Its perfect.