1. Generic and boring look.
2. No homepage for users.
3. Early adopters have more Steem Power. Thus, they control popularity of posts, which means there is not a level playing-field. (Huge Negative).
4. Just another blogging platform..? (How long ago were you bored of Empower Network?)
5. Not able to delete stupid comments on your post.
7. Should the success of your posts be judged by the Steemit Elitist's? Should their world-views and lack of discernment and discretion of your view determine the success of your post? Absolutely not. Social Engineering.
7. Say what it is - "Steemit is an Incentivized Social Media for a Few"
8. Steemit is a novelty.
Someone else will come along and do it better . .
Edit: July 16, 2016 Here is another post to back-up my points - https://steemit.com/inequality/@business/the-disappearing-middle-class-of-steemit-and-how-to-fix-it