The ship won't sink, but the freedom-flag it was flying has been burned (months ago):

How steemit became useless to freedom-fighters

It became a ship that flies nothing but a big dollar sign flag.

Freedom-fighters and whistle-blowers were forced out when #steemit decided to impose mobile number disclosure for account creation. Assuming @dan not the same person as @dantheman, I hope @dan goes on to create a freedom-respecting blockchain blogging tool (we need one).