I see what you mean and its an important note that regulation over media censorship has already been in tact for quite a while now. And as an addition to what you've said, the government might even be more interested in the money making matters here on Steemit as monetary value of information is readily shown to public. However, given the type of content and information here on Steemit is clearly dictated by the curating environment the platform has in place, that is Markdown, which is dominantly text. I don't think Steemit would aim to be the next video storage and streaming social platform.