I don't think that Steemit is equipped to compete with big social media networks. Forums and message boards however, yes very much so!
I found the draw here to be incentive to put time and thought into posts/comments in hopes to make a little profit. However, can vids can still reign supreme! Only half kidding. =D
I left fascistbook and google+ to be here exclusively. Why wouldn't steemit.com compete with them?
Budget and volume. We may very soon compete, but at the moment, it's no contest atm.