I think an important aspect to add to your thoughts is the value of attention. What other centralized platforms have created are ways to pool attention and monetize it with data for almost free which is why they make so much money. However, Steem is now trying to do the same but with benefits to users for their attention and hopefully while respecting their privacy. So it adds another level of value to be monetized but with a freemium type model as decisions are made by those who choose to vote.