I hate to say I told you so...

Cryptocurrency networks are institutions. Being decentralized has never made them immune from the human element. It has always mattered WHO are the largest stakeholders in DPOS. It has always mattered WHO are running the mining pools and the large miner farms in Bitcoin. It's better that the illusion drops for people now than that they continue to believe that crypto is "run by math" and similar untrue notions.

Steem is an experiment in decentralized governance, at least we're learning quite a bit from it.