Pretty nice article. It didn't happen only to steemit tho, everyone thinks crypto is dead and what's dead is the hype for sure but lots of protocols are thriving more than ever and I think steemit still has a long way to go before one can even start to worry about dying. There's definitely flaws and I agree that one of the main reason is because of how young the platform is.
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The lack of hype is when the smart investors slowly start buying it all up.. we saw it in the .com bubble, lots of hype and money thrown at startups, then a crash; but the heights reached by websites like amazon these days, dwarf the peaks reached in 2000.