It is, but if had to choose between downvoting a 50% and that account that spreads out their votes on other authors, I'd choose the former as it does a lesser evil.

I have seen that account upvote authors not delegated to it so it's curation pattern is not entirely aimed at circle jerking per se.

Unlike a project hope scheme where there is a small to zero chance one can get an upvote if they don't set 50% beneficiaries to their post.