I think it would be better if they build it on Smart Media Tokens! it doesn't look like a competitor to Steem. Narrative is only a token for a social media website that is not built yet and doesn't have its independent decentralised blockchain.
Revenue comes from advertisers on their website? ... Okay
Everything seems to be managed centrally by the organisation why don't they just start their own social media website and reward users with existing crypto? What's the advantage of building a new token?
http://yours.org/ is doing that already with BCH
My personal opinion? bad speculation