Google Algorithm updates are nothing new to the SEO Industry and usually, sites aren't hit that hard unless they are doing something wrong.

Sadly, it's all preventable, if you address the problems with the quality of the website. But this isn't a concern for Steemit INC apparently.

We just need to stop caring about Alexa ranks and Steemit being a flagship for this blockchain.

There is no conspiracy here, just lazy website management.