Its a cool idea, but I'm going to buck the trend and disagree.

As you probably know - what you are asking for is very unlikely to happen. All the people that invested the most (time, resources, and/or money) at the very beginning are not going to just going to choose to all of a sudden stop using their influence on the site. Humans are humans for one, and plus they also have the most to loose if the judicial and executive authority took the site/community in a direction that was bad :)

Even if they would were super altruistic and would be willing to do this if they genuinely thought it was in the best interest of the community, it is highly unlikely they are going to think it is. From their perspective they have a vision for where they want Steem/Steemit to be. They are executing that vision, and they are going to see themselves as the best people to influence it to make their vision happen.

As much as it sucks for that small group to be holding all the power right now, this is in line with what is in the white-paper. They are the most heavily invested people right now, and have the most to loose if they site/community goes bad. It is their right as the highest SP holders to hold the most influence. There are ways (although slow and difficult) for others to take this influence away over time, and to some extent it is already (slowly) happening.

It will not necessarily always be this way. Steemit, Inc. and the early adopters currently hold all the power, but one day it may be the big corporations who bought the most SP. There will always be a group holding the most SP, and they will be the ones with the power. You may think that by relinquishing all their influence it will give rise to some genuinely altruistic community of friendly Steemians - but there is nothing saying a group you will dislike even more may fill that void.