I don't think so. There is always something interesting to read on steemit irrespective of votes and money.
However something should happen in order to be able to find more easily posts that may be of interest to someone even if they are not popular for the majority and are somewhere lost among other posts.
But steeemit is just so young yet..So I think that it is just getting starting and not failing.
There's just too much being posted about steemit itself. Everyone is repeating what has already been said. I agree with you though.