Interesting question, although I'm not sure which understanding of it is more interesting. Do you mean how to protect the value of your Steem, or how to keep Steem itself? My assumption is the former, as I carry a BTC around in my pocket, but it has little value, since it's not a real token.
If you suspect Steemit might die, and Steem will (further) crash then, the only way I know of to protect your assets is to sell Steem for another asset which you expect to perform better.
Not investment advice, and neither is it a prediction of Steem or Steemit's future. Just my meager application of reason to the question I think you're asking.
That being said, I also think @ned is working towards making Steem a token for myriad platforms. If that works, moon, IMHO.
Great rewards are granted by great risk. Nothing profound or novel about that. You pays your money, you takes your chances.
Cost-cutting is always painful, and never more so than when it's done in public. When costs have grown beyond acceptable margins, it's time to do something about them. I am happy that I don't have to manage my budget in public!
=)