Steem failed basically because people were not making money from the quality of their content, but from how well they were able to accrue votes to themselves. People post rubbish and get heaps of votes - that kind of system is bound to fail with time.
Please bitch, how, where and when did STEEM fail? Its running better than ever.
Its an amazing success, receiving the usual rigged crypto game treatment.
The leverage is extreme, a little bit of liquidity and demand will drive it thru the ceiling, easier than any other coin around.