and many independent devs/stakeholders will not find it economically viable to build here,

One thing that the devs will eventually understand I hope is that, Steem is the way to attract customers and users, not for them to earn off. Like any business, they need to create a business model that people want to use.

Not to be a downer, but this likelihood seems to be shrinking and becoming less realistic, even from my pro-crypto/Steem position.

I disagree. This is just the start of an industry - but people think it is too late.