Isn't it steemit that's the blogging site and steem the utillity token?
Steem is much more than steemit. If steemit died tomorrow is that the end of steem and all its on chain projects? I don't know.
But if steem is just steemit then i need to find a new token to invest in
Steem is a transaction free coin, and Steemit, busy, Steempeak etc are the faucets that distribute the running inflation. They are not the same, but part of what gives Steem value is that it is connected to something that has value in the real world: Social media. Bitcoin only has speculation and has become a new kind of gold. Steem has a firmer grip in the real world with Steemit.