I don't know if Bitcoin/Litecoin is the best analogy. As much as I hate to use the facebook/myspace analogy I feel like it is more accurate. I wouldn't say that Steemit has reached critical mass yet either. It is still the early days of blockchain social media platforms. Now do I think Steemit is going away, no not at all. It is really starting to get attention and growing everyday. However if EOS can really fix the distribution issues then that will be a big plus. Also steemit needs more ways for communities to gather like subreddits. So whoever gets that implemented first will be at an advantage. Also making it a little more user friendly for non crypto types could help. Either way I think this will be fascinating to watch and competition causes more innovation so we all will benefit from the out come.