I think he is trying to get out from under the shadow of @dan by building "his own thing". I also believe that this new company is going to be a "proof of concept" project for SMT so that when SMT launch with this Destiny Project ready to go, other businesses/groups who are considering creating an SMT will see that it can be done successfully.

Whether this is good/bad/indifferent for STEEM is yet to be seen. I do feel that being the CEO of two separate entities that work within the same space is a bit of a conflict of interests, as it is human nature to pick a favorite and play sides. Destiny being "Ned's baby" is likely to be the favorite when it comes to choices between Destiny and STEEM.

I think the way to play it is to keep Steeming on, and also join Destiny when it releases next year. The lure of being a first mover on a new project is too rich to pass up. Look at some of the whales we have here, who are whales only because they were here first and vote values were scaled so out of whack.

As long as there is no discernible conflict between STEEM and Destiny, then using both will be a no brainer. But I guess we just have to take a wait and see approach to all that.