Steemit Inc has to decide what it wants to be. You are not very similar to Reddit with easily consumable Type I content (no proper search). More like an early version of Seeking Alpha (but for crypto), but with a lot of low value Type II content mixed in.
The White Paper is not helpful, so it's Ned's job to look at the competition and say, "This is the market we are targeting". Emphasis on focus and target.
Steemit could probably be a serious threat to Seeking Alpha within months because you can pay their financial market writers more, but you need to be friendly to a Long Tail of Type II content with a page views metric.