You’re missing an important thought which is "pretending that it still is a blockhain is a way how to make shitloads of money for many people". This is something that most projects in the ecosystem do...They pretend that they either are solving an issue or that it is a safe blockchain. Steem basically became another shitcoin...but shitcoins do have the tendency to make money for some speculators anyway:)

BTW what a lovely father you are:)))