I can't see SMT's hurting STEEM. I do see hype .and a lot of money currently locked up in our economy here, going into a few flops, which is unfortunate and I, for the most part, will be staying away from SMT's until there's something solid to invest in. Many won't do that. They'll see a trending page advertisement disguised as a helpful blog post, and get burned. I don't want to be one of those people who gets burned. There will be a new shitcoin produced daily though.
Maybe I'll be able to hold my SP, use it as a tool like I do now, and earn some passive income delegating RC's away. I don't need 48,624,165,087,597 RC's. I assume that can be valuable in the near future, without sacrificing my SP, so maybe there's money there.
I'm in no real hurry, but, big but... this waiting game is not easy.