Quite an interesting post. A couple thoughts...

Steem blockchain is controlled by the witnesses, particularly the top 20. Steemit accounts are permitted to vote on witnesses, and our votes are weighted according to the amount of SP held by the account.

This means that someone with enough Steem can just vote in whatever witnesses they want, and gain complete control over Steem. It is hard to be more centralized than this, as nothing is more centralized than money in this world.

Also, here's some thoughts on why BTC and other cryptocurrencies haven't been strangled in their cribs. Lemme know what you think, if you would.

Thanks!