As the situation with Steem showed, community has a lot of power.

What power exactly? The ratios may have changed yet Blocktrades and Freedom are said to hold 7% of the HIVE stake with the V.22.2 Cabal's witness to witness voting circle jerk ensuring their control. Looks a lot like the old STEEM to me. DPoS governance has proven to be a failure in my opinion. Not even witness voting retention was dealt with in the new fotk. The cabal decided, instead, to play Santa Claus with their airdrop; dictating who was naughty and who was nice.

Is it just me that finds it ironic that Blocktrades runs an exchange of sorts?