My background is in finance and economics. Nothing about the definition of a ponzi scheme is steem.
By definition[1], a Ponzi scheme (/ˈpɒnzi/; also a Ponzi game)[2] is a fraudulent investment that involves the payment of purported returns to existing investors from funds contributed by new investors. It is an investment system where the investment profits are paid with the money from other investors, and those who experience profit believe the profits come from non-investors such as business activities, or the earnings and growth of a company.
There is no return on investment because new investors come in. This added money isn't being paid directly to those who already own steem as a dividend or interest. This is a free market where you can see the total float, total amount tied up in steem power, and total SBD issued. This market is traded on multiple exchanges openly and freely.
Nothing about a ponzi scheme is in the open. Hence you are uneducated.
Not one thing about what I said included "paying off current investors simply by bringing in new investors". What I said is we need more total demand to increase the price as currently the supply is outpacing the demand. That is how free markets work, not ponzi schemes.