I think it really needs to be noted that a lot of the whales just made the first "big money" of their lives. Any financial advisor would advise them to power down.
PLUS
What you mention about re-distributing tokens.
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True. I think its smart for them to power down some and enjoy the rewards. However, if Steem reaches its full potential that $1-$3 million some of the whales have could turn into a 100's of million later on if the platform gets great and really takes off. FB, Reddit or Medium pays nothing. For its a no brainer to be on here even if it only means making a couple $1000 a year. The other social platforms paid 0.