Steemit is correcting just as hard as many other projects.
But is it failing? NO
Are peoples vdeo's being demonitized because they don't fit someones elses policies? NO
Are people being shadowbanned or censored? NO
Has steemit succeeded in forming a unique community different from other social media sites? YES
Are people that invested money in steemit making more money? YES, SHOCKING
Remember this is a beta version, at least it says so in the top left corner. What they are trying to do is not easy, steemit is uncharted territory. Even if they only achieve half of what they want it is revolutionary. You're all just demoralized by the price, and the fact that your half assed content isn't making a few hundred dollars per post. C'mon guys....
I feel like they should just move to a reddit voting system. Everyone's vote weighs the same. Get rid of delegation and paying for votes (as much as possible). You'll still get stupid content upvoted to the top due to bots - but that happens on reddit as well.
And honestly, most of the $100+ posts I've seen aren't very high quality. There's some pictures and a few lines of writing about something semi relevant. Then it gets $100 or more. The reason that happens is due to steempower and weighted voting - a stupid system. It needs adjustments, somehow.
And just like that, I look and $steem is up 60% on Binance