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RE: Part 3 of Our Plan to Onboard the Masses: Smart Media Tokens
It would also turn this into a centralised chain. The opposite of what you claim.
A utility token should be useful - where is the utility in a coin that only pays its miners?
SMT's will have an internal market which Steem would be the main currency it trades with and the utility from sp allows you to do everything on the chain.
This wouldn't centralize anything, this would just switch how the mining is done. Instead of focusing on content for the main coin it would turn more into something that is used. Steemit can have its own smt just like anyone else that could be traded for other cryptos and Steem.