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So on any kind of longer term scale, zaps ought to promote the kind of content we want to see more than downzaps discourage it.

Yes, but I think that I learned (again) that as soon as financialization - of "other things" such as a community board - becomes a foreground phenomenon, it opens up to plays for power, greed and other less beautiful aspects of the human tribal brain. For example when I hear people say steemit on SN, I shudder because that's a great example of financialized community building that completely enshittified because of these things, combined with serial founder syndrome (i.e. it wasn't maintained.)

The thing that gives hope for SN (to me) is that the team is putting their hearts into this and want to get it right (and keep it from turning wrong.) That passion is the only reason I put up with the user-is-tester dynamic, haha.