Solid explanation @culgin

I'm glad that more and more people understand the difference between Steem and steemit :)

Steem is a blockchain and it is one designed to host information in the form of text-based data

I was always wondering why did they decide to store information as text. Surely it isn't the fastest way and all that data definetly comsume large amount of space. Is it the best solution possible?

I understand that flexibility is huge advantage.

Even if you delete your account, there is no guarantee that your data deleted.

Good point.
I would say, that it's guaranteed that those data will not be removed and will surely be stored.

Don't get me wrong, I am not saying that Steem is able to provide full privacy
However, we are not presented with a false sense of privacy.

You nailed it!
Most likely there will never be any privacy on Steem blockchain but at least we're not being lied about it, and we do not have any illusions.

Great read buddy. Post a bit to old to upvote :( till the next time.

Yours,
Piotr