Brilliant post.

I also believe that blockchain based social media, will eventually overcome Facebook and the likes of it.

A true SOCIAL Network run by the people for the people with financial incentives for users and hoster is simply more fair, then a conventional media platform, where all of the profits will wander into the pockets of the host. No incentive means no reason to keep using it, once some problems start to emerge or the next new and hot social app comes out.

However if you participate in the monetary success of said media, you also have a reason to stay and try to improve it.

This is a huge advantage and one of the reasons, I believe in steemit.