As I see it, there is only one thing on steem that matters. And that's Money, the more you have the more power you have. The reputation is nothing - just to throw some bone to the authors. It may also take a little bit more power to downvote more posts to get him down to -0 as @dan did to @berniesanders
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Reputation was as added as an after thought and only on STEEMIT. It was created purely to fight spam bots. Spam bots were able to up vote each other and out gun the bots that were trying to remove the spam. The reputation system was created to fix that problem and in that respect it worked.