First mover advantage: check.
Market value of Steem: doesn't matter at this time as long as solvent.
Competition: competition for what?

That's the question we should all be focused on at this time (IMnsHO)

I started on steemit 3 months ago during an airport layover and I'm on one again. And back on steemit after a month off.

Let's focus on the Y. Steemit connects X (you creators) with Y (us consumers). How can we attract and retain more Y?

Maybe we should focus payouts on commentary instead of votes. Anyone else dismayed by posts that get 300 up votes and no comments?

Maybe that could be the THING. Steemit is where people get paid for being active participants in thought provoking discourse.

Don't we all skim the content on our way to the comments? Or is that just me....

P.S. After a month off, the forward progress that has already been made is probably more apparent to me than to those who have not looked away.