Of course that invites much spam but I see it as a game: Find the good and reward it, ignore the bad and punish the ugly. I think it works ok but it takes time for each user to get it.
I like this strategy. It’s a good way to try and filter out the useless spam. It’s sad when someone posts something, expecting to get actual feedback (good or bad) and they get a fake comment instead, which is usually in the form of a compliment.
That's what a system like Steem invites as many people strife to receive money in form of upvotes. It gives the illusion of a fake community. However, this is just one of many layers and within is hidden the greatest gem mankind has seen during the technological revolution!
I agree the potential is inspiring! I still feel there is a long way to go. ...but it's def on the right path and worth it!