It is definitely not wise to put all your eggs in the Steem basket. There's plenty of other cryptos to invest in and plenty of other ways to earn online. I'm a blogger, and writing for an established tech blog was my main source of income.

However, like you said, some people are just living off steemit right now. But it's okay, as from the rewards they make on the site, they can venture into other fields and build and create new revenue streams.

Great article and some very good pointers. Upvoted :)