This is undoubtedly a risk for Steemit but steemit does have first mover advantage which is huge.

As you say, despite Dan's genius, it looks near darn impossible to wipe out every potential wrinkle in a social media platform. Steemit can still iterate.

SMT's could be game changing. We need to see progress on this real soon.

Finally, the fact that Dan has been involved in so much does suggest he might get bored easily. Who knows whether he will see through his plans for social media domination before another blockchain venture turns his head...?