I would not consider STEEM a direct competitor..personally. As our end goals are far different as we hope to not just build a network; but a slew of open source tools that will empower future developers to build apps we haven't even thought of yet, to monetize online content.

This sounds much like Phase 2 & 3 of this post, steemit's evil plan for cryptocurrency world domination authored by one of the steemit founders. You guys may be competing more than you know.

Competition is good for the end user, so I have no skin in the game either way.

Good luck with Yours! I'm a fan of Ryan Charles' work. I look forward to playing around with the early preview (I just signed up for it).