Steemit is still like the wild west. Those who stake a claim early may get rich and there's no law enforcement. A select few are milking it for profit, but I think there's a lot of good stuff here and the community is making efforts to deal with the abuse. As it grows the influence of the whales will decrease. We just have to give it a chance
You just nailed it. The steemit is still in beta, with time things would stabilize. I thank the forerunners because without them we won't be here.