Contributors Increase and Payouts Decrease - What is the future for Steemit?

When I started using Steemit, I have to say, I thought Steemit was the most amazing thing since sliced bread particularly for people living in developing countries who may be unemployed or even worse, in extreme poverty.
However, having used Steemit for a few weeks now, I am starting to wonder if this platform will become just popular amongst the Whales of Steemit in the Western World and the much populous of developing countries.
That might seem harsh but payouts are dropping and posts hardly get viewed now as the number of contributors contending for steem credits on offer is going to generate an avalanche of posts. I am seeing people simply post a youtube clip with nothing else.. how unoriginal and is this where we are heading?
I can spend an hour on a post, trying to develop quality content and I got only 2 views! Even worse, maybe they were my own views?
Sure, hit and miss is ok for someone in a 3rd world country who can live on a dollar day. But in the west, clearly it costs more than a dollar a day to keep the lights on...
So, I am not sure as I am still new to Steemit but the future, in my opinion looks like we either got to pay for our content to be promoted in the hope it will get traction or accept steemit will be inundated by posts from developing countries, which in and of itself is not a bad thing but it may not always be relevant to those outside of those countries...
Just my 2 cents worth and expecting I might get 1 or 2 views again before this post is relegated to the archives..