If you play it smart, you can still earn money off of it. Here's my take on this subject.
Is Steem a Scam?
Well, that isn't really what I want to talk about. You can read up on why people think Steem is a scam (you can start with here, here and here for example), and assess the risk yourself. But the main idea of this article is that at the end of the day people are still making money out of Steem right now.
So how can you make money while still being cautious?
Golden Rule of Investing
It's really simple - never invest what you can't afford to lose. With Steem, it's even simpler than that. Since you can make Steem by blogging (and without investing a cent), you basically have nothing to lose. So as long as Steem is worth anything, you can't lose by blogging.
So I Shouldn't Care at All?
Definitely Not. Depending on how cautious you are, you can take steps to prevent a huge loss if Steem is indeed a scam and will crash at some point. If you're a little worried, you can transfer your SBD to another currency (e.g. bitcoin) the second you earn it. Of you're even more worried, you can also power down and try to cash out everything you have as fast as possible.
Bottom Line
Steem might be a scam, and it might not. But you can still make money off of it if you play it smart. Try to hear other people's opinions (even those you disagree with), stay wary, and you might win big even if it crashes.