I'm still learning about Steemit, so I can probably better answer this question in a few weeks.
I think if they can manage the potential gaming of the system (and I understand they do), the potential is interesting.
Rewards are a good incentive, as long as they are real and the effort to earn them is balanced, and that it is repeatable.
RE: Hi, I’m William Mougayar from Toronto, Canada. I'm an investor & author of The Business Blockchain – the first business book that fully explains the blockchain’s implications on business.