I think there is a big problem with starting to use this huge stake in any significant way different than Steem Power delegation to projects. The problem would be that it would be a big market force to drive the price of Steem to go down. So anything that includes powering down would be detrimental in my opinion.
On one hand, I'd love for there to be referral program to provide bounty for people that bring in new users to the blockchain, but I see huge potential for abuse. My bet is that at least half those funds will go to abusers creating accounts just for the referral bounty. As much as I'd love to see a working referral program and as much as it could boost the efforts of the #promo-steem community that I support strongly, I see it as bigger opportunity and incentive for bots, abusers and spammers.
Still, I'd say that having this conversation is a good idea and I see nothing wrong with pressuring Steemit Inc to divest themselves from this huge stake if it indeed makes sense to do. Currently, they are the ones delegating Steem Power to new users and paying their registration fees.
halo @rocking-dave please follow and upvote me