Yeah, you have a point there. It looks like steem community own steem project. This is not seen in any other blockchain, they just rely on developers. One reason could be incentives you get in the form of SBD and steem when you use that project on steem blockchain or post it here and get rewarded from the users. If that is the case then even it is better because at the end of the day everyone needs appreciation and it is better it is adding something good to the community.
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It's like you combine video game + a new digital currency that could be traded into something real. Are there actually any other platform that also works as social media + Blockchain or is Steemit the only one?
It's very clear that it's working because of the reward system. It makes the whole system more engaging. Also probably work so well because people are kind of fed up with the other large social media sites that are censoring stuff and becoming stagnant.
But much of this also just happens because the world population is growing so fast that just a few companies cant capture all the value under some huge umbrella. Every single individual is starting to become real powerful because of how empowered they are getting because of new technology. And with new research and development that constantly push the price down. Machine learning has another massive part in this.
You create a nice positive feedback loop when people faster get rewarded for good content. With other platforms it takes a longer time. And then you may forget what it was you did that gave you a reward. The quicker feedback makes people adjust faster and optimize. And people like to get rewarded more from other users than some company. Because it feels more special and personal.
We are probably all moving slowly ahead into some new era. But there will be many bumps on the road that's for sure! But we truly live in exciting times for people who want to work for themselves or express themselves to the world.