It does make sense what he have said.
Steemit is going to do well as long as they dont have any serious competition. They do not deliver their promisses, their team is a joke, Ned is not very representative as a CEO etc. etc.
I treat Steemit as a temportary social media platfrom. something that will be replaced sooner than later
of course it will go ...especially when are done making profits.
Which i am not certain it will be anytime soon