"Facebook wont be a competition if our sign up process on steemit wasn't as tedious as it is. Our sign up time sucks..." I don't believe this is the reason Steemit cannot compete with fb. It has everything to do with UI and lack of functionality. Steemthat is the new Steem-based go to platform which will compete for fb user conversions. Steemit will forever be a blogging platform, nothing more... albeit a good one!