What is amazing is that someone found a way to make literature valuable on a blockchain. The mechanism that does this is the redistribution of value from the many to the few that have the quality necessary for such valuation.
Unfortunately I heard that hf19 undid this metric, and if my logic is correct then steemit could be on its way to becoming Facebook.
There is no way to turn steemit into Facebook though, and so steemit may simply lose value as a quality-of-mind engine.
The only thing left for it to be is a poor reflection of bitshares.
For evidence of this just look at the increase in sensationalism on the trending page.