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RE: Steem - Even if Steem isn't technically ready, the free advertising doesn't hurt
I mean it would have made more sense if they said Steem (the blockchain), but still like you mentioned there is not a video service on Steemit [yet].. I was just talking about this the other day asking if Steemit wants to be just a blogging site or if it wants to be like the Homepage of all SMTs/Communities with things like 3Speak, Dtube, or whatever the top Steem dApps are at the time..
The thing that makes the most sense to me is having steem as a base layer only, reducing the inflation to almost nothing,and having steemit.com switch over to an smt... but what do I know :)