The truth is most of us is here for the money.

Nobody can deny that!

However, this is one of the greatest problems of the blockchain. 

Why is the engagement down?

Because we have a lot of writers and bloggers and not enough readers.

This has to do with the fact that Steemit is marketed as a way to make money, not as a way to get great content. It also has to do with the fact there are $ signs everywhere on the posts, which constantly reminds the readers that they could be earning by writing rather than reading.

These are two important flaws that make the large majority leave if they don't earn rewards.

If there were no rewards, I'd probably quit Steemit myself.