There is definitely potential. I was making several hundred dollars a month when Steem was high, but it's obviously worth a lot less now. Its going to get interesting if millions join Steem as them the rewards would be spread thinner. You will need to be exceptional to make a lot. Of course there will still be people exploiting the system, but they will have more competition.
I know some people can live off their Steem income now, but generally you need a really low cost of living.
We need to find something to make Steem go viral. Growth has stalled for a while.
I was too small at the time but it would be great to get to the position with STEEM sitting at a few dollars where I could keep growing my SP daily and then sell the extra STEEM that I earn from posting. I wouldn't be touching my main balance as that is going to be there for the next decade.
I am a long way from living off of STEEM but that would be the dream if we ever grow to that stage. I would love to see a few million active members and see how it would all play out.