This post is focusing on the financial issue ... but we must remember the great advantage of Steemit: Its decentralization.
This advantage is very important for people who are against, for example, the bureaucratic state. I know several people who are censored in "Fakebook" or Youtube, for example.
True freedom of expression outweighs monetary issues.
20 or so whales controlling the reward pool is not exactly decentralized. We have the decentralized architecture — not the implementation.
The blockchain is decentralized 😏