Yes exactly, and the more steem you hold the more you can earn with it. It's insanely unique and has a tonne going for it.
I also hold BTC given that it is much more stable during bearish markets and some IOTA and EOS.
I still consider IOTA a bit of a gamble since they don't have a working product yet.
I'm of the opinion IOTA is doomed. I like the idea, but it won't deliver all it promises. That's my perception of the project in any case.
You're quite possibly correct. I've been thinking about converting the coins back to BTC but have been waiting for a turnaround in the market.