Eh, steemit was all about being an early miner, bitcoin was about early mining, even the non-mining coins have aspects where a lot of money flooded in from bigger coins, the concentration of wealth and computing power and access to cheap power and importantly information on what to mine/invest in profitably didn't go away with the advent of crypto, it just became at the forefront of everyone's attention and it's clear that some groups had more access to these things from the start than other groups.

Steemit is just funny to me because it's not efficient enough in terms of easy ROI to be attractive to large investors, and it's not fair enough to be attractive for everyday social media use, so it wins at neither on all counts.