Isn't this a good time for this to happen? Most of the people that don't really beleive in Steem have gone already. The price has fallen a lot without any real bad news, now at least there's some reason for it. I'm not that concerned, I think there's enough good projects for Steem to thrive without Steemit. Cutting costs shouldn't be too difficult and I think this could be a big incentive for Ned to get his act together. Those guitar videos were fun but he didn't look focused, now maybe he will be.