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RE: How long will the mass adoption of Steemit take?
IMO, Bitcoin is quickly losing it's status as crypto reserve currency. It is clearly telegraphing that it will not be a factor in the crypto 2.0 future. Other tokens (one or a few) will take up that position.
I share your cynicism, but instead of just wilting, I think Bitcoin may instead metamorph into something else. With it's limited inflation rate and history of security, Bitcoin is well positioned to become a place where rich investors store their wealth. That's a far cry from the original vision of what Bitcoin was supposed to be, but it's still valuable in its own right.
for it to be a store of wealth I think more than the rich will need to use it. If they can't use bitcoin in an easy way what's the point. A rich person has options in the fiat world.