I agree, there's no way to circlejerk to prosperity. There's inefficiency built into the circlejerk system - it's doomed to fail eventually. You're right, CONTENT is what this site produces, it's you and I who power it. It's why readers come to it, it's why people sign up, it's where upvotes are earned (the ones that aren't bought!)
Maybe there will be an adjustment of some kind. I think there are too many good people here for it just to fizzle. I hope something happens soon, so I know to either pour things into Steemit, or diversify away.