You are definitely on the right track here.

All it would take for someone with loads of money like Zuckerberg to make steemit an obsolete platform is make the same thing on an existing block chain or his own that is simply user friendly and has a good communication/notification set up. That's it, game over.

That one simple thing is why steemit is not already super huge. If it, at minimum, is not fixed then steemit may become myspace down the line.