Insightful post! The network effect from Metcalfe's Law is an interesting perspective.

We are in the early days of our crypto existence. Some tokens will head to the moon; while others will fade away when their use cases do not pan out.

There are some issues with Steemit that need to be addressed. These include the centralisation of the platform by wealthy Steemians, exploitation of current weaknesses in the algorithm (last minute upvoting), upvoting of junk content by bots that contravene the Proof of Brain protocol, the retention of Steemians who join, the Steemit MAU rates, etc. I believe that some or all of the stated issues will be tackled by Ned and his team at Steemit Inc. Ned's latest post detailing progress to date and expected updates was very helpful.

I am here to stay. I will ride out the bumps. I still enjoy the process of contributing and engaging with the people of Steemit. I look forward to the continued success of Steemit!