DPoS did well for Bitshares, so STEEM was built on a proven protocol, but it just doesn't suit well a for social blockchain. @blocktrades programed the current REP as a "bandaid".

An evolution of the protocol would be better option, but as you say, requires some research. Also the way STEEM has operated for 4 years, has generated some data as well, regarding human behavior. Some of that, should help as well.