Today, our feeds are rattled with posts about the #deletefacebook movement. At the same time, there's a #joinsteemit movement. Right now, Steemit is in no place to compete with Facebook. Eventually? Yes.
The recent events with Facebook are frustrating, but you should have accepted the fact that things like this would happen. From a security standpoint, Facebook is one of the biggest sites in the world meaning non-stop and constant security attacks. With such an army of cybercriminals and hacktivists (and probably the nation states as well), info leaks and such are bound to happen. In no way am I saying that this is excusable, but it's not a shock to me.
Now, can Steemit compete with Facebook? Maybe in the future, but definitely not in the current state. Many people say Facebook is "too big to fail", and I would agree overall. I think it would take a LOT to create that much consumer doubt for it to ultimately fail.
In addition, Steemit is still too new in its infancy to compete and take over users. The use cases are different. The platform is different. The way we interact is different. See the point here? Steemit 100% has the capability long term to be a competing site and social media platform.
Right now, Steemit is still a blogging site. This is more closely tied to something like Reddit than to a bigger social media site. You could make a case that this site is similar to Twitter in a sense you can follow people, post updates, etc.
I love the concept of boosting up Steem, and I think you should definitely never let a crisis go to waste. If the issues surrounding Facebook help bring exposure to things like Steemit, I'm totally on board. To my knowledge, there's nothing negative surrounding Steemit so far, so let's do it!!!