You are spot on, AFAIK. Steemit actually is a product/service, and generates value in Steem via it's operations. What value does Bitcoin offer except as a store of value and means of xfer? I won't pretend to argue with people clearly above my pay grade, like Clif High, but I see no merit in such an evaluation.
Bitcoin is valued more presently because it was the first crypto on the market, and has built momentum. Given the fragility of cryptocurrencies, which only require a power outage, hard drive crash, or theft of a cell phone, to vanish utterly, it would seem to me that Steem will eventually become more valuable than Bitcoin, because social networks survive, due to their utility, such events as erase cryptocurrency.
I, and I am sure I am not alone, have forgotten every password I ever created, lost untold volumes on crashed disks, and bricked too many phones, to casually consider any digital data robust. YMMV, and I hope, for your sake, it does.
Thanks!
I'm with you on steem being multidimensional. there is so much opening up on the steem platform it's staggering. steem is not just another crypto token. Steem is alive and conscious. We are steem. I get chills when I think about it.
Bitcoin has a major advantage though... its the FACE of crypto, in the news everyday, and already accepted at many, many merchants. It will be hard to convince these merchants to accept a myriad of other cryptos, and thus we will most likely have to convert our Steem (et al) into Bitcoin to buy real life goods. Time will tell.