The best thing of a blockchain is that it is immutable and permissionless, the real problem here is human nature itself, and with social media features on it, drama seems to become even exponentially bigger.
Even though in the end I think that Steemit will just secure that stake somehow and not sell it, the paradox is that people want better distribution while don't want big whales to sell, still better now than with Steem at 100$, that would really destroy credibility.