You've just described curation. That's what curation is :)
If Steemit INC is offering an uncensored social media, and then downvoting specific content, that's an issue; but if sneak is using his personal stake to downvote; that's entirely his call.
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curation, for me, is about finding good content that you think others will enjoy or find useful. the flipside to that, for me, does not extend to 'hiding content you think others will not like' - which is part of why sneak himself said that it is not a valid use of flagging to flag posts that you just don't like and also part of why there isn't a negative curation reward for 'flagging posts early that many other people also then flag'.
in reality, the issue of the contractual status of sneak as an employee is secondary to his ability to influence decisions and determine the future of the platform.