I think you are on to something ...
I think there will need to be at least three factors at play in the calculation.
- Number of posts/time period. (Historically, 100% for the first 4 posts/24 hours, then that decreased as you posted more)
- Reputation of poster. As far as I can tell, the system is not taking advantage of reputation.
- Exponential Author Reward Method
Steemit is all about the game theory. So, every time you change the game, the gamers will change their strategy. But, this has the possibility of spreading the reward pool a little further.