I think the idea behind Steemit may be stronger than the execution. It's early days and the big challenge is to translate the concept of egalitarian ownership into a site that works. The Facebook model is that of an old fashioned top down ownership. This model has stood the test of time and it works. Hence any egalitarian collectively owned and run vision has a lot of catching up to do. I suspect Steemit may fall by the wayside eventually but no doubt it will have been an influence on whatever site finally does manage to achieve the goal of a true collectively owned and run social media site.