Two thoughts, off on a tangent: (i) I wonder how long Sun has been loading up on Steem at bare-bones prices - maybe from Steemit's monthly sales. He could have considerably more stake than just what he bought from Steemit in this particular transaction; and (ii) At least Sun "eats his own dog food". He's doing the AMA tomorrow on DLive. That's a nice contrast with many of the Steemit folks, who have never really made any substantial use of their own platform - at least under their own names. It could bring a nice boost if Sun were to start blogging here and linking to it from Twitter.

Back on point, I'm having a real hard time visualizing how this token-switch is gonna work. Totally migrating the blockchain along with author and curation (and beneficiary?) reward functionality would take some serious time & effort, and the announcement didn't say anything about SBDs, delegations, the SPS, free transactions, or SMTs. It's a lot more than just a token. All that technology adds some serious value for someone to just stroll in and destroy. I don't see it happening.

I'm imagining something more like a TRON-based token that's pegged to the Steem token, so that everything on-chain stays basically the same (at least for a period of several years of migration and integration time), but anytime someone trades out through poloniex, their Steem gets parked and replaced with a pegged TRON token that they can withdraw into their own wallet...

I'm definitely interested in learning what comes up on tomorrow's AMA. Hope I can make it. Overall, I guess I remain optimistic, in a guarded way...