Hey @gamerveda, thanks a lot for extending the inputs provided by @timeshiftarts.
Coming to the points you guys have mentioned

1. Yes, the platform is currently being abused by newcomers and it is also true that they aren't getting success in get-quick-rich so the non-genuine users are leaving after trying couple of days
2. "With great power comes great responsibility", I guess HF19 has made it possible. Earlier users with higher SP were giving away upvotes easily now they are giving it more responsibly to deserving content only.
3. Yes, it's an open platform so TROLLS are going to be there. We just have to see how steemit handles then and get rid of them.

Steemit has got good potential and even I feel that down the line it will emerge as a highly valuable crypto currency as it is backed by very good concept. Let's see what happens. We will be in a good profit if it rises. Fingers crossed! :-)