You're missing meme's

and followers.

I agree though. 80% of the content on steemit is just pure recycled garbage.. People just churning out content hoping to get follower trades.

Almost everyone saves their votes to upvote whale content (that they likely don't even read). Most whales have agreements with others to save upvotes for each other.. or they bribe their followers by running "contests" that consist of resteeming/liking their content.

I'm a little concerned about steemits longevity with the current reward system.