I'm totally with you on the need to focus on value. The question I always like to ask is: "If you take away speculation, why would someone want to buy STEEM?"

My issue with the EIP (and the whole concept of rewarding content just for the sake of it) is that even if it works out perfectly - i.e. the highest quality posts always end up with the most rewards or however you define the perfect "proof of brain" system - I still don't see how there is value to owning STEEM or why I would want to buy any.

Maybe I'm a great curator and can earn a ton of curation rewards, but being able to earn more STEEM is not a reason to buy STEEM in itself. That presumes STEEM has some value to begin with which would make you want to earn more of it. Again, if you remove speculation which gives it its value right now, what is the reason to buy STEEM?

That's what I think all of our efforts should be focusing on - giving STEEM some actual value that doesn't just come from being able to earn more of it.