Centralization can be addressed giving more power to minnows. I have a recipe for this.
We all know Steem is an inflactionary system: new coins are created and Steem Power grows proportionally for everybody.
We can instead create a non linear function that rewards a little more minnows and a little less whales.
Whales already get most of the curation rewards, probably there will be little difference for them and everybody will benefit from more widespread power.
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This is a nice idea, but there might be problems with it. What about whales whom split their power across multiple accounts? It incentivizes them to make many, small powered accounts instead of one big one -- splitting like cells when they get too large.
There's plenty of people already doing that with massive armies of bots. I agree with you @anyx, incentivizing multiple smaller accounts may not necessarily help, and could instead further compound the problem.