If what you are building is successful, you will be cannibalizing existing steem

How do you figure? Never heard the term healthy competition before? There have already been dozens of social media blockchains come and go, others based on ether tokens and so forth, they all fizzle out. So far this tiny little niche has no real competition.

Competition may have been what could have forced STINC to get their arses into gear and innovate. That's what a healthy business ecosystem is all about.

It's hardly comparable to somebody actively taking control of an existing entity and manipulating it to their will. Not sure where you're getting the comparison from, tbh