While I hope it is a catchy headline, I assure you it is not an exaggerated one. I got excited about it awhile ago, have done some reading and at one point even got a mining rig set up to go after new crypto's as they launch. Despite some exposure, I remain an idiot and highly advise you to keep that in mind as you pour through the following post!
First Things First
I hear it referred to as social media a fair bit, a statement which does not seem to be entirely accurate to me.
This was something I made up quite awhile ago with the same thought in mind. basically I am used to social media being shorter and simpler, and not as often useful or informative. I get that this is in fact social media, it just isn't like the existing ones so far. For me, the closest comparison is to Reddit, but there are some key differences.
In the Reddit model, there is as much value in the comments as in the original post. So often I have pulled up a thread on Reddit which mirrors a question I have only to have a highly detailed answer waiting for me in the comments. I don't know that I have often seen that here. It does sometimes prompt a post from another user which will accomplish the same end, but having information spread out over several single posts, just doesn't seem as efficient.
So, What Is Steemit then?
Seems to me to be a blogging website, but one based on blockchain technology and using it (author contribution) as a means of distribution. This is awesome, but after two years it still seems to be the largest source of frustration among users. Often it is feeling your high quality post has not been recognized, or that low quality posts are being over compensated due to a buddy system.
In addition, sites like YouTube have compensated contributors for awhile. It was in a way that I think makes more sense to people however. Basically build up followers, then get the views to get rewarded. I remember reading an article from 
The best phrasing I have heard that explains what steemit is to me, is it's a human algorithm. To me it paints this picture that it's this thing that allows us to see human nature at it's best and worst. In addition, it takes the need for me to try to nail down and define steemit away. It allows me to see it as something that is very different than it was two years ago, and is unknown what it will be in another two years.
What Changes Would I Like To See?
The biggest change I would want to see is changing of the rewards. If we have a site that wants to reward high quality content, I would think it fair if the readers of that content were equally capable of getting rewards. Curation is a useless game for people just joining in and testing the waters. I would love to see the comments activity and content have as much value as the post itself, and possibly under some circumstances getting the lions share of the post reward. As someone who has in the past had high value posts it still felt hollow when there was nothing in the comments. Not knowing if the content was appreciated or I just had a vote from someone for curation rewards purposes... it was frustrating.
Would love to hear thoughts from anyone on this. Again, for myself.... I am down for the human algorithm explanation. It is something that allows me to keep plugging and recognizing that maybe we don't know what we are yet, and the things that I find "can't-live-with" frustrating are ultimately going to be weeded out.