Interesting points, but once you understand Steem, you will realize that it stretches far beyond the points you put up, it uses the "human greed" and creates a connection between developers and the regular users.
On the new tokens thing, your probably right, most of those coins are indeed created for "pumb and dump" and only a few, really a few are "worth something".
RE: One thing Satoshi Nakamoto underestimated was greed. We underestimate it too. Let's correct our mistake.