The total number of Whales on this network will always be limited and Whales will have the power to influence how blockchain rewards are distributed.

Is that how it is on steemit, a limited number telling the masses how the rewards are going to be handed out? I don't know, but if that is the case then there really seems to be nothing different for the copy cat WhaleCoin.

3 Steem / Steemit.com Case Study
Since launching in 2016:
• Steem is currently the 22nd most valuable cryptocurrency on https://coinmarketcap.com with a market cap of $347,163,415.
• Alexa.com ranks steemit.com as the 1,370 most popular U.S. website and 2,428 most popular website globally

As they WhaleCoin noted above steemit is doing very good since the launch. And as you can see below, steemit is responding to users needs and desires.

This has the effect of users being paid much more if they receive an upvote from a “Steem Whale”. A full list of Steem Whales can be found at https://steemwhales.com/ . The algorithm has gone through several changes to determine vote weight after many users complained that the Whales had too much influence.

Will their "Limited Number of Whales" be as quick to respond to their followers, and "FOLLOWERS" is what they refer their user base as,(not my choice of words). I do not feel like I have to Follow Anyone on Steemit, I follow who I please, and am certainly not going to slave myself out to a group of people that see themselves as slave masters.