Is Steemit using an incentivized blockchain structure (like the "cryptocurrencies" Bitcoin, Ethereum's Ether et al; Pyramid-Ponzi scheme), where the value/cost to purchase their tokens increases with demand or based on a price someone sets?

If it's running on incentivized crypto-asset structure then I personally feel unless you're wanting to take advantage of uneducated/unaware population, whereby as the value/price of the crypto-assets go up then society's wealth is unreasonable/unnecessarily reallocated weighted towards the earliest adopters, then I personally won't be using such services. I started to read their whitepaper and it looks like they're attempting to create a "stable coin", however those inherently seem to have similar problematic issues.