Imagine how community would react when we read that 70% of staff was fired because the crypto went down? It's ok for 3-months old startup from a garage, but this must be sustainable and stable after several years. You can't live on promises forever
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My company is 10 years old and we still don't have strong revenue. Were still "living on promises." Depending on the scope of what you are out to accomplish, things do actually take quite a bit of time.
Uh what? This shit happens to companies who have been around for years quite frequently. The startup phase doesn't just end as soon as you seem to think...
Edit: Note I'm not actually defending Steemit Inc here. I just don't agree with the perspective of your criticisms.