That is why DLT aka blockchain technology is the great invention to level that playing field.
They thought Xerox will always rule office copier tech, Blockbuster will always rule home videos, or GM and Ford will always be top car maker, nothing is dominates forever, not even fb.
Additionally if FB disappears tomorrow, the world will not be any worst, as compared to say Xerox, Blockbuster, GM and Ford who actually produces value in utility, entertainment, transport and if not then at least local jobs in the US.
I think I have only checked my FB once in last 3-4 months, and none since I found Steem.
So true, and not just for social media. Ecommerce, cloud storage/computing, "sharing economy" services, and others will face disruption.
While Steemit might not quite be ready for the mainstream, I know that many folks are ready to ditch Facebook. It's just a matter of getting it to a place where it looks as good or better, is just as easy to use, and pays out crypto.