"Today Steemit now has over one million registered million users."

The number of "registered" users means nothing. Just like Twitter, facebook, and a host of other such sites (present and past), I think you will find that of those so-called registered users, the vast majority of them are no longer active. In the case of SteemIt, I would be willing to bet that only 1 or 2 percent of the "registered" user number are still active (online within the past 90 days).