But an user base can exit a platform as quickly as they got in, when a better alternative become avaiable. In the end that is a Very small advantage.
I think that is a very big advantage. It is not easy to get a large user base to switch even if you have a better product.
And as you mentioned most people are here to make money - so any platform that wants to attract those users needs to be able to pay them at least as well as Steem can. Steem currently has a token with a $1 billion market cap - that is going to be hard for any new token/platform to compete with as far as earning potential goes.
I still disagree with you here. All you need is good and reliable product (with a good user interface), and some money to do some well placed marketing. The new generation (z, millenials, whatever is the new name they give), switch things they use on a very quick pace. As an extreme example, let's say a new plaftorm work out some kind of millionaire partnership with pewdiepie for exclusive content, as long as he exit youtube. Boom. Instantaneous million userbase.
The question that should be asked is: Could Steem retain it's userbase? As things are now, my guess is no.
Which was achieved within 2 years, with a pretty broken platform. I could say that a better product, with better content, and a well placed marketing could easily achieve this at the same time or even less.
From what i see how things are going, the big hope in long term for steem is the SMT's. If this turn out badly (which i also hope won't happen), then steem will only survive until the better competitor arrive, which will eventually happen.
All I can say is that if it were really that easy, someone probably would have done it already.
Maybe, but we are still on a brand new world, and there is a lot of projects being built. I bet that the next 5 years a lot of things will change on the cryptoworld....