Steem is just a name, and a name is merely whatever the majority of people associate with it. That is ultimately what was sold here.

Great point, but the name Steemit and not Steem was sold right? Unless Tron + Steemit make a juicy offer that minimized disruption to Steem users and DApps, I can't see a large portion of the community supporting migrating the name Steem to the TRON token.

Ultimately a bit disappointing that the announcement doesn't contain more details. I could easily see this being an escape hatch for Steemit Inc that hasn't really been thought out.