I'm seeing it like this ... bitcoin is the main drive chain that allows all other cryptocurrencies to store value.... Ethereum is the smart contract platform with flexibility and business/fintech applications... Steem has the potential to become an ecosystem of content, sidechains, marketplaces, and whatever else creative minds can come up with.
I see Bitcoin and Ethereum as interacting directly for sure. Steemit still has a lot of growing to do, but I'm obviously confident enough in the concept to invest time and money into it.