SMT's are a way of coating the stink that surrounds Steem and Steemit.

I see your point in this and I agree mostly. But this doesn't mean it's the end of the Steem blockchain. SMTs could make Steemit and Steem token "not relevant", but the dapps that will be created on the Steem blockchain they could be much more valuable if they implement features that don't drain value as is happening with Steem.

Awesome thought!