You're bringing up a very good point. It turns out 40% might not be as much as it seems and very soon due to inflation and other factors (like Steemit account not voting) it seems like this 40% could very well be below 30% and shrinking. I might do a post on this actually as this sounds an important thing to research.
Take care Kyle!
Yeah I haven't done a stat work up on their coin profile, probably will if I ever increase my stake in this network. Steem's history IMO is rather interesting and I am not sure about exactly how their (and accounts like dan or other pseudonyms) holdings effect the economics.