Correct. This fact does not preclude what I described from occurring. Steem is not the only blockchain to choose from, and as I have already described and you alluded to, it is unworkable in its current state.
It could even be possible for Steemit to fork to a new Steem blockchain (minus problematic stakeholders), but I wouldn't expect that to be a discussion carried out in public. That discussion would probably happen behind closed doors.
Well, I can't say that I agree with it, but destroying the entire blockchain and screwing over everyone that has bought or earned stake up until this point is one solution.
They are doing it to themselves now. There is little difference really.