I feel like 95% of the ICOs on Ethereum were just scams. They might not have been blatant scams where they ran off with the money but just random people who jumped in and raised money for something they knew nothing about. They themselves didn't even know that what they were proposing wouldn't work on Ethereum in the first place so it is understandable how they didn't at least sell out of a large part of what they raised thinking that the crypto gravy train would just keep going up or bounce back way faster.

I do agree with you that there are tons of people on the exchanges holding coins like STEEM and EOS who aren't getting any of the benefits of the projects that they could be getting. I have even told people previously that they could power up their STEEM and just set an auto voter and at least earn a little bit of rewards but they didn't do it.

I have also told other content creators that they could just link their YouTube and Instagram accounts to Share2Steem and passively have a chance to earn something but they don't do it.

In the end there is something not attractive about this system to most people.

I have powered up 9,000 SP recently but I often wonder if that money wouldn't have been better spent else where. It isn't a big enough amount to really make an influence here. Plus the idea of getting into a top 20 Witness position isn't going to happen. I have almost gotten to a point of feeling like these content creation platforms that are DPoS only make sense if somehow you can become a top witness otherwise they are too risky because the value extraction is too great to stay ahead of it otherwise.