possibly but the issue with the SMT to me is that to really fund it a person has to do an ICO or possibly if there was a killer app high powered STEEM holders could trade into it early but it might suffer from the same economics as STEEM then suddenly where a few hold enormous power and then it becomes somewhat impossible for others to catch up.

I think it will be a little more clear once SMT launch what it is capable of and if it makes sense. I think several of the projects that were thinking about the SMT are opting to just clone the code and start fresh which I understand why they are going that direction.

I think that everyone will be benefited by additional competition in the space and launching a new social media site that air drops STEEM investors who had over a certain reputation and stake weight could be beneficial as well.