On Ethereum something like 80% of all ICOs released are scams, they employ astroturfing via "bounty campaigns" and "social media campaigns".

Yes, and here on the Steem blockchain, all of these inevitable scamcoins will be AstroTurfed on Steemit, where the scammers will be able to essentially double-dip on post rewards and the scamcoins. In addition to that, they'll likely be spamming wallet transfers that "advertise" their scamcoins, further adding to the worthless blockchain bloating that we'll see from the creation and exchanging of hundreds or thousands of shittokens. The nodes we have already can't handle larger transaction loads and queries. A single spammer can essentially break the network or at least slow things down to a crawl.

We have people sitting on many millions of dollars who aren't willing to improve the basic infrastructure, but want to significantly add to the current transaction load. And we have witnesses making thousands of dollars a month, but aren't willing to even turn on one full node themselves.

The need for SMTs is questionable, at best. The likelihood that they'll even be delivered or that they'll do half of what the promoters are claiming they can do is pretty slim, given the track record of the promoters. And the people pushing it and supporting the push - the same people sitting on or collecting tons of money to be in "leadership" roles - appear to be completely unwilling to upgrade the underlying infrastructure that will be needed to handle the transaction load.

Lucky us.