I think competition is a healthy thing. This in my opinion will make Steem stronger and will encourage the dev team to hopefully work that much harder. The Steem network is growing by the day and already making real world impact on lives across the globe. No blockchain is doing what Steem is doing right now. In my opinion once SMTs are in place things will really start to grow in ways we have not even imagined yet. Communities are a massive part of the internet (I think more than some realize). There are thousands of communities all over the internet waiting to be powered by Steem and the effect this could have can potentially change the internet/world as we know it.