I think it will be good, because more people looking at FOSS is good.
Will bitcoin possibly take a hit when coins from large governments are revealed? Possibly. But it would be more likely to be from a perceived drop about to happen than a drop that would have actually happened.
The people in bitcoin because they think it's a legitimate possibility for electronic exchange are gone though. They screwed that up when they didn't adjust the fees with the new price. Now the only ones left are just looking for profit.
But those ones could just as easily leave for Steem.
I hope they do produce something worthwhile, though I don't have extreme faith in countries like the US. At the very least it will provide a means for people in that country to have decentralized electronics transfer.