The only way advertising is going to work on Steemit is if there is a strong user base to support it. Right now, there isn't much of a user base. Steemit needs to focus on getting people here, and the best way to do that is to make it inviting. It needs to be attractive, functional, and easy to use. It isn't.

Attractive - No.
Functional - Somewhat.
Easy to use, intuitive - Not by a long shot.

When they fix these issues, they'll stand a chance of attracting more users. They're competing with Facebook. Like it or not, they're the leader of the pack. Steemit isn't even close.