Do not forget censorship. A lot of people like me value Steemit because it is not able to censor view points. How often to you hear stories of Facebook, Twitter, et.al. blocking posts or banning users which they view as politically incorrect or not in line with their politics.

I just know I do not want an invisible hand tilting the scales.

Also with the content on the block chain - if Steemit ever goes off the rails, the content is there for others use in apps they build. This allows competition because the content is available in away it is not on other social networks. Competition makes us all better.