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RE: Where is all of Steemit's content stored? (not on the blockchain I don't think)
The pictures are stored on 3rd party hosting solutions. Videos are stored mostly on youtube.
All text content is stored on steem full nodes where the steem blockchain is stored. Check out https://steemd.com to see the blockchain. Anyone can host a full node where the complete blockchain is stored.
In the future steem might choose utilizing the ipfs protocol for storing images. Until then you could consider using https://ipfs.pics/ for image uploading which uses ipfs image distribution right now.
Even if it's only text that is stored on the blockchain, it's gotta build up to be huge - I trust that the text is compressed, but still...