True, the format is more like reddit. Steemit can't overtake the whole reddit as it is already a huge, established network, but it can overtake many subreddits. r/bitcoin has around 178,000 total users and just under 300 active users currently on. I think Steemit can easily reach well over 300 people currently on at a time. r/the_donald has 133,000 total users but over 4000 active users on now. So total registered members is not a good indicator of actual traffic. I think it would be nice for Steemit to aim for 2000-5000 active users at a time by the end of the year. Total user count is not as important.