Steem will be changing from a platform for sharing and rewarding content, to a platform for releasing state-of-the-art cryptocurrencies that "just work".

I don't know about anyone else, but this line in particular fills me with dread.

"We couldn't actually make money by being a place where people create and share interesting things in exchange for rewards, so we're going to put that aside and focus on selling the mechanisms to make coins which don't even have arbitrary backing."

That is a terrible place to be.