Plutocracy is great, if... It's based on competence. But what is the competence here, on Steemit?

• is it a "brute power"? often achieved by being here at the right moment
• is it reputation? Maybe...
• is it the ability to spark conversations and bind community members?
• is it the ability to bring new users? To promote Steem(it) by producing good content?

If we continue to foster the current system, great, we will have thousands of coins - but worthless coins.
If we somehow, magically pay the best, those who are still not even registered here, we will have much less amount of coins. But that coins are going to worth something, because those will be recognized and accepted.