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I don't think Steemit competes with Facebook, to me it looks more like a Reddit IMO.
Regarding the 4USD I hope it does not go above 2USD this year, I have just bought my first couple os Steem and I want to buy and power up much more before it skyrockets, would be a shame to miss it :(

The point is not "Will it challenge Facebook in a year or two", the point is "Steemit the platform that can complete with facebook over the time"? And I think that the answer to it is yes, as there is a lot of untapped potential in the platform.