for sure FB knows their end is coming, But I have my doubts a site/platform that has been rushed is going to be the one to do it. I love steemit for sure, But I have never been a big user of reddit which has never been a threat to FB, so I don't see how a platform based on reddit could take FB's spot. Reddit has always been a great site and held a significant part of the social media market... so steemit will do great in the long run.

Synereo has been in the development for years and is intended to compete for FB's market share, with comparable user interface, groups , advertising etc etc.