Well I believe that in a perfect world we would have the WP blogs working as a publishing medium + referral tool. Remember that some of these blogs could already have frequent visitors, or search engine traffic, so keeping that in mind it's necessary to avoid any kind of penalties that could be triggered by using this plugin.

I haven't checked the amount of traffic Steemit.com receives, but a handful of powerful blogs could well bring in the same amount of visitors, maybe even a couple.

It's up to the search engines to adapt, and I wouldn't bet on it - Google is fast with updates, they are pretty good at improving their algorithm but I still wouldn't rely on that. For the time being, and until they actually start noticing this new type of database; we should just avoid any conflicts with search engines.

That's just my opinion of course.