Thousands of (failing) social media websites vs Facebook. I know which I'd rather be!
The social media landscape shows where the trend is going... Audiences are congregating around a handful mega sites.
Done right I'd bet on a single decentralised blockchain social media platform/ token (e.g. Steem and it's apps) succeeding, over thousands of tokens/ sites with limited or no usage.
The premise of the OP is value flowing back to STEEM, it would make sense to make the core product... well, valuable.
RE: Explainer: Value Flows on Steem with SMTs [VIDEO]