No. SMT's are built on the Steem blockchain. SMT's doing well will improve Steem token value.
SMT's are a simple onramp onto the Steem blockchain making it very easy for others to monetize comment sections or build their own platform.

What this means is there is HUGE competion right around the corner for Steemit. SMT's are bring the competition in a wave.
This is why it's bullshit that Hive account@ned is the leader of Steemit and he created SMT's. His lack of effort into Steemit is directly correlated to the fact that he knows it will die soon.

He is morally obligated to give steemit a fighting chance against the competition, or step down from his throne. Lead or get out of the way.

Don't lead. Create competition. Then sacrifice all your lowly followers to the competition you created.